Oregon Statutes 130.625 – UTC 706. Removal of trustee
(1) The settlor, a cotrustee or a beneficiary may request that a court remove a trustee, or a trustee may be removed by a court on its own motion.
Terms Used In Oregon Statutes 130.625
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Trustee: A person or institution holding and administering property in trust.
(2) A court may remove a trustee if the court finds:
(a) The trustee has committed a serious breach of trust;
(b) Lack of cooperation among cotrustees substantially impairs the administration of the trust;
(c) Removal of the trustee best serves the interests of the beneficiaries because the trustee is unfit or unwilling, or has persistently failed to administer the trust effectively; or
(d) Removal of the trustee best serves the interests of all of the beneficiaries and:
(A) There has been a substantial change of circumstances or removal has been requested by all of the qualified beneficiaries;
(B) A suitable cotrustee or successor trustee is available; and
(C) The trustee fails to establish by clear and convincing evidence that removal is inconsistent with a material purpose of the trust.
(3) Pending a final decision on a request to remove a trustee, or in lieu of or in addition to removing a trustee, the court may order such appropriate relief under ORS § 130.800 (2) as may be necessary to protect the trust property or the interests of the beneficiaries. [2005 c.348 § 55; 2013 c.529 § 14]