What happens if a corporate trustee resigns or declines? | NC

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Q: What happens if the corporate trustee declines or resigns, and how do we properly appoint a successor trustee? A: The first step is to look at the trust document. If it names a backup trustee or explains how to fill a vacancy, that process usually controls. If the corporate trustee never accepted the job, the role may simply pass to the next named successor. If the trustee already started…