I'm currently living in Asia. I've never received a copy of a family trust which I believe is irrevocable and of which I am the trustee. It was created in CO where my family resides and where my father passed away in '05. I have asked for a copy, to no avail. I did receive a copy of five random pages of my father's will. Initially my brother was appointed trustee, but due to conflict of interest (he's the financial adviser of trust assets) I was appointed. Next in line would be my sister and then a trust company. My sister also works for the same company where the assets are held.
You can file a letter with the attorney for the family trust stating that you are relinquishing your rights and position as the trustee for the trust. In such a situation, it would automatically go to the next person in line. You are not allowed to assign your right to serve as the trustee of the trust to another person. I would consult the attorney for the trust about how to best handle this matter.
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You can resign as trustee by signing a resignation with two witnesses and a notary and giving copies to the trustee and beneficiaries.
The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.
I agree with the other responses, but for GOSH SAKES...why have you allowed this to go on this way for 7 years?!? How can you possibly act as trustee when you do not have a copy of the trust? You are personally liable if you breach your fiduciary duties to the beneficiaries. Ignorance is probably not going to be a defense, here. As trustee, you are the person who legally has a right to control the trust, at this point. Why have you not done so? You have gotten yourself into a mess. Resigning as trustee may not get you out of it, either.
I would meet with a lawyer to discuss this, as soon as possible. Resigning may be necessary, but you need to try to protect yourself from potential claims, first.
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Contracts / Agreements Lawyer
A trustee can always resign, but you probably should discuss this with a lawyer.
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