A trustee is an important fiduciary appointed to handle the administration of a trust. It is important to discuss with any selected trustee their intention and willingness to serve in this role. In the event they are unable or unwilling to continue serving in this role, they may resign. This is why it is so important to select the right person and to thoroughly explain their responsibilities to them.
A trustee can only resign by one of the following methods per California Probate Code 15640. The first is any procedure outlined in the trust document. The second is by obtaining a court order. The third way a trustee can resign in California is by getting the consent of all adult beneficiaries if the trust is not revocable. The final way a trustee can step down from their role is by obtaining the consent of the person who can revoke the trust if the trust is revocable.
The majority of trust instruments created by Pasadena estate planning attorneys will include details about how a trustee can resign. Usually this involves the trustee giving written notice to any co-trustee, successor trustee, or the beneficiaries on the trust. If the trust does include a resignation provision, the trustee is responsible for following that exact procedure. If the trust does not contain a resignation provision, however, the trustee can resign by filing a petition with the probate court or by getting consent from the appropriate parties.
Discussing expectations of a trustee is important for minimizing the possibility of them stepping down because they did not realize all of the work that was involved. Working with an experienced attorney can help you navigate the process of creating or amending a trust. Contact our lawyers today to learn more.
