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We have an irrevocable trust which states that Removal and

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We have an irrevocable trust which states that Removal and Replacement by Beneficiaries after the death of the Settlor. A majority of the beneficiaries may at any time remove any trustee by giving thirty days written notice to such Trustee. No reason be given. The persons having power of removal may also fill the vacancy.
Okay we have given 30 days notice, the current trustee agrees not to be trustee any more, Do we just get a letter from them stating they are stepping down or does it just automatically happen. How then does the new trustee get the bank account etc and have their name on record?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Law Pro replied 1 year ago.
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What is going to be needed to be done is that the existing or prior Trustee will need to execute a resignation of being the Trustee.

The beneficiaries will appoint the new Trustee and the new Trustee needs to execute a document accepting such designation.

This all can be done with one document as follows:

Trustee Resignation

I, __________________, Trustee of __________________________________ do hereby resign on _______________ (Date) all of my Trustee responsibilities, rights, title, and any other interest whatsoever I may have or had in this trust or trusts.

Before resigning, I appoint __________________________________________ (Name and address) as the successor Trustee.

In witness thereof, I hereby sign my Resignation as Trustee of the above trust (s).

________________________
Trustee

________________________
Notary

________________________
Witness

- See more at: http://www.getfreelegalforms.com/trustee-resignation/#sthash.sAXv5vLh.dpuf
Trustee Resignation

I, __________________, Trustee of __________________________________ do hereby resign on _______________ (Date) all of my Trustee responsibilities, rights, title, and any other interest whatsoever I may have or had in this trust or trusts.

Before resigning, I appoint __________________________________________ (Name and address) as the successor Trustee.

In witness thereof, I hereby sign my Resignation as Trustee of the above trust (s).

________________________
Trustee

________________________
Notary

________________________
Witness



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Customer: replied 1 year ago.


Thanks for the wording. After we get these letters notarized do they need to be brought to court or just filed with the state? Also, what about the bank account, should the letter state they agree to transfer over all the documentation like bank accounts and deeds or title or whatever.

Expert:  Law Pro replied 1 year ago.
After we get these letters notarized do they need to be brought to court or just filed with the state? Also, what about the bank account, should the letter state they agree to transfer over all the documentation like bank accounts and deeds or title or whatever.

The document should be filed with the court and state - just to cover all bases.

The document doesn't have to specifically state that - it's presumed that the past Trustee will and must turn over ALL Trust information. However, you could place additional language in the document that they will do such if you want the Trustee to be absolutely clear that they must do such.

Language to the effect that the Trustee shall within 10 days of the execution of the Trustee Resignation turn over all documentation concerning the Trust to the successor Trustee.


Thank you so much for allowing me to help you with your questions. I have done my best to provide information which will be helpful to you. If I have not fully addressed your questions or if you have any follow up questions, or if I have misinterpreted your questions in any way, please do not rate me yet, but simply ask a follow up question without rating so I can provide you with a fully satisfactory answer. If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service with 3, 4, or 5 faces so I can receive credit for helping you today. I thank you in advance for taking the time to provide me a positive rating!

If you have any questions, about this or anything else, please ask for me, Law Pro, directly in the question and I will try to assist you as best I can.

For example, you would state, "This question is for Law Pro . . . (then on with your question).
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Experience: 20 years extensive experience in real estate law, foreclosure, finance, and landlord tenant law.
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