Legal Question in Wills and Trusts in North Carolina

Prior to my in-laws death in 2004, a family trust was established. At their death, all assets flowed into the trust. My wife and sister-in-law were named as co-executors. My wife died in 2008 and I was named as successor co-executor. What is the procedure for resigning as co-executor of this trust?


Asked on 10/05/10, 8:25 pm

1 Answer from Attorneys
Rachel Hunter

Read the trust. Usually nothing needs filed with the court. Notice has to be given from the resiging trustee to the the successor trustee that he/she is renouncing. If there is no mechanism at all, then notice would have to be given to the beneficiaries of the trust. If the trust does not name any further successors, the trust may provide that the new successor will be selected by the remaining beneficiaries of the trust and/or their legal guardians (if there are any minor children). If the trust does not provide for that, then anyone who wishes to be trustee or any of the remaining beneficiaries can petition the court to appoint a trustee. No trust ever fails for want of a trustee.

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Answered on 10/15/11, 12:49 pm


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