Section 705
(a)
A trustee may resign:
- (1) upon at least 30 days' notice to: (i) the settlor and all co-trustees of the trust, in the case of a revocable trust, and (ii) the qualified beneficiaries and all co-trustees of the trust, in the case of any other trust; or
- (2) with the approval of the court.
(b)
In approving a resignation, the 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 shall not be discharged or affected by the trustee's resignation.
Procedural advisory commentary (2013)
Form update: A Petition for Resignation/Removal/Appointment of Successor Trustee (MPC 266) and proposed Decree and Order on Petition for Resignation/Removal/Appointment of Successor Trustee (MPC 782) may be filed to resign as trustee and may also be used to request the appointment of a successor trustee to fill a vacancy in a trusteeship caused by the resignation without filing a separate petition. Notice shall be by citation in accordance with § 109 of the MUTC. The filing fee to request court approval of a resignation is $0. If the petition also requests the appointment of a successor trustee to fill a vacancy, the filing fee is an additional $375.00. The filing fee for a citation, if necessary, is $15.00. Note: If the petition is the first or initial action filed in the court (e.g., an action to resign as trustee of a non-testamentary trust with the request for a successor trustee), a surcharge of $15.00 shall also be assessed. A surcharge shall not be assessed if the petitioner only requests to resign.