(UTC 705) (a) A trustee may resign:

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Terms Used In Nebraska Statutes 30-3861

  • Trustee: A person or institution holding and administering property in trust.

(1) upon at least thirty days’ notice to the qualified beneficiaries, the settlor, if living, and all cotrustees; or

(2) with the approval of the court.

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

(c) 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.