Current through L. 2024, c. 185.
Section 705 - Resignation of trustee(a) A trustee may resign:(1) upon at least 30 days' notice in writing to all cotrustees and to the qualified beneficiaries except those qualified beneficiaries under a revocable trust which the settlor has the capacity to revoke; or(2) with the approval of the Probate Division of the Superior Court.(b) In approving a resignation, the Probate Division of the Superior 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 is not discharged or affected by the trustee's resignation.Added 2009, No. 20, § 1; amended 2009, No. 154 (Adj. Sess.), § 236, eff. 2/1/2011.