Authorizes trustee of trust, under certain circumstances, to terminate service without filing formal accounting with court or obtaining release agreements from beneficiaries.

Summary

The bill lets a trust’s trustee stop serving and settle the trust’s account by sending a detailed notice to beneficiaries and other interested parties, rather than filing a formal accounting with the court or obtaining signed releases. Beneficiaries have 60 days to object; if none do, the settlement is final and they are barred from later claims. This speeds up trust closures and reduces legal costs.

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