LegalFix
Sign In

Section 4-10-705 - Resignation of Trustee.

WY Stat § 4-10-705 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

4-10-705. Resignation of trustee.

(a) For a revocable living trust, a trustee may resign:

(i) Upon at least thirty (30) days notice to the settlor, if living, and all other cotrustees; or

(ii) With the approval of the court.

(b) For an irrevocable, testamentary or charitable trust, a trustee may resign upon:

(i) At least thirty (30) days notice to all qualified beneficiaries and all other cotrustees; or

(ii) With approval of the court.

(c) In approving a resignation, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.

(d) 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.

Previous Section
Section 4-10-704 - Vacancy in Trusteeship; Appointment of Successor.
Next Section
Section 4-10-706 - Removal of Trustee.