Trustee accepting or declining to accept appointment of trustee in Trust

If a person designated as trustee has not accepted to act as trustee, that person may reject such appointment.  Also,  a person designated as trustee who does not accept the trusteeship within a reasonable time after knowing of the designation is deemed to have rejected the trusteeship.

A person accepts the appointment as trustee of a trust: By substantially complying with a method of acceptance provided in the terms of the trust; or if the terms of the trust do not provide a method or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.

A person designated as trustee, without accepting the trusteeship, may:

Act to preserve the trust property if, within a reasonable time after acting, the person sends a rejection of the trusteeship to the settlor or, if the settlor is dead or lacks capacity, to a qualified beneficiary; and

Inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose.

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All content is for informational purposes only. It is also only intended to relate to Mississippi Estate Planning Law.  If other states are mentioned, they are mentioned as an example only. No legal advice is provided in this content. Laws change so you need to check for any updates by current laws in Mississippi.