CODE OF VIRGINIA

RESIGNATION OF TRUSTEE (§ 64.2-758)

A. A trustee may resign:

   1. Upon at least 30 days’ notice to the settlor, if living, to all
   cotrustees, and to the qualified beneficiaries except those qualified
   beneficiaries under a revocable trust that the settlor has the capacity to
   revoke; 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 is not discharged or
affected by the trustee’s resignation.

HISTORY: 2005, c. 935, § 55-547.05; 2012, c. 614.