Q: How can I resign as trustee from a family trust, the deceased family member died destitute, & backup refuses to serve?
The beneficiaries of the trust are four charities, and I have already sent an email to all four indicating that my godmother died destitute owing thousands of dollars in taxes and credit card companies.
A: So, are you saying there are no assets in the trust? Simply notify all charities of this fact, by certified mail, and that you intend to resign. If there are trust assets, you will need to identify what those assets are by way of an accounting (nature, location, amount/value as of the most recent valuation date or bank statement, etc.). Pursuant to the Maryland Trust Act, the beneficiaries may name a trustee to act in your place. If they cannot agree or do not take action to appoint a successor, then you must petition the court to approve your resignation and the court will notify the beneficiaries and appoint a new trustee. You will likely have to remain trustee until a new trustee is appointed.
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