14A V.S.A. § 705
This is the official text of 14A V.S.A. § 705, part of Vermont’s V.S.A — part of the compiled statutory law of Vermont, published by the state as "V.S.A." Browse the sections below, each linked to its official government source.
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§ 705. Resignation of trustee
Official statutory text
(a) A trustee may resign:
(1) upon at least 30 days' notice in writing to all cotrustees and to the qualified beneficiaries except those qualified beneficiaries under a revocable trust which the settlor has the capacity to revoke; or
(2) with the approval of the Probate Division of the Superior Court.
(b) In approving a resignation, the Probate Division of the Superior Court may issue orders and impose conditions reasonably necessary for the protection of the trust property.
(c) Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation.
(1) upon at least 30 days' notice in writing to all cotrustees and to the qualified beneficiaries except those qualified beneficiaries under a revocable trust which the settlor has the capacity to revoke; or
(2) with the approval of the Probate Division of the Superior Court.
(b) In approving a resignation, the Probate Division of the Superior Court may issue orders and impose conditions reasonably necessary for the protection of the trust property.
(c) Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation.
Status: in_force · Read it on the official government site
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