N.J. Stat. § 3B:31-50

Current through L. 2024, c. 87.
Section 3B:31-50 - Resignation of trustee
a. A trustee may resign:
(1) upon at least 30 days' notice to the qualified beneficiaries, the settlor, if living, all co-trustees, and the trustee or trustees, if any, designated pursuant to the terms of the trust to succeed the resigning trustee; 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.

N.J.S. § 3B:31-50

Added by L. 2015, c. 276,s. 1, eff. 7/17/2016.