Trustee Settlement and Discharge

Summary

The bill creates a new non‑judicial process for trustees to obtain a settlement of their accounts and be discharged once a trust ends or the trustee resigns or is removed. Trustees must send a detailed disclosure to qualified beneficiaries, co‑trustees and any successor trustee, and give them 60 days to object. If no timely objection is received, the trustee is freed from further liability for matters disclosed.

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