Trustee Resignation and Appointment through Nonjudicial Settlement Agreement

When a will has no provisions for the resignation of, or successors to, a testamentary trustee, 20 Pa.C.S. §§ 7765(a.1(e) and 7764(c)(2) allow the beneficiaries to accept the resignation of the corporate trustee, and allow the qualified beneficiaries to appoint a successor corporate trustee, through a nonjudicial settlement agreement. Estate of Martin L. Early, 11 Fid.Rep.3d 224 (Montgomery O.C. 2021).

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