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There is also a co-trustee of a bank that is no longer around. Since there is a co-trustee, does this complicate things if my mom wants to resign as trustee?
Asked on February 9, 2015 under Estate Planning, Missouri
Answered 10 years ago | Contributor
Your mother can resign as trustee. Since there is a co-trustee, that person can now become the successor trustee. This does not complicate the matter at all. It actually makes it easier because the co-trustee can continue to serve as trustee unless there is a provision in the trust preventing that and requiring appointment of another trustee.
The trust may state procedures for resigning as trustee and those procedures should be followed. If the trust is silent on that issue, your mother should notify the co-trustee and the beneficiaries in writing that she is resigning as trustee.
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