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Michigan Compiled Laws, Chapter 700. Estates and Protected Individuals Code § 700.7705

Current as of January 01, 2025 | Updated by Findlaw Staff

Sec. 7705. (1) A trustee may resign in either of the following circumstances:

(a) Upon at least 28 days' notice to the qualified trust beneficiaries, the holders of powers of appointment, and all cotrustees.

(b) With the approval of the court.

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

(3) 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.

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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 700. Estates and Protected Individuals Code § 700.7705 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-700-estates-and-protected-individuals-code/mi-comp-laws-700-7705/

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