(a) A trustee may be removed from office

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Terms Used In Alaska Statutes 13.36.076

  • 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
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • property: includes real and personal property. See Alaska Statutes 01.10.060
  • Testator: A male person who leaves a will at death.
  • Trustee: A person or institution holding and administering property in trust.
(1) by the decision of a trust protector under Alaska Stat. § 13.36.370(b)(1);
(2) by the decision of another person specified in the trust instrument;
(3) under a procedure specified in the trust instrument;
(4) by a court on petition by the settlor, a co-trustee, a qualified beneficiary, or the court on its own initiative, if

(A) the court finds there is a basis for removal under (b) of this section, there is not a trust protector or another specified person who is currently acting and who may be contacted by the settlor, trustee, or qualified beneficiary in person, by mail, electronically, or by another means, and there is not a procedure for removal specified in the trust instrument; or
(B) notwithstanding the appointment of a trust protector under Alaska Stat. § 13.36.370 or the existence of a procedure for trustee removal specified in the trust instrument, there has been a serious breach of trust as specified under (b)(1) of this section.
(b) A trustee may be removed from office under (a)(4) of this section if the court finds that removal would be in the best interests of all the beneficiaries and,

(1) for (a)(4)(A) or (B) of this section, the trustee has committed a serious breach of trust under the terms of the trust and Alaska Stat. § 13.36.070 – 13.36.290; or
(2) for (a)(4)(A) of this section,

(A) lack of cooperation among co-trustees substantially impairs the administration of the trust;
(B) a trustee is unfit, is unwilling, or persistently fails to administer the trust effectively; or
(C) there has been a substantial change of circumstances not anticipated by the settlor, removal is requested by all of the qualified beneficiaries, the court finds that removal of the trustee best serves the interests of all of the beneficiaries and is not inconsistent with a material purpose of the trust, and a suitable co-trustee or successor trustee is available.
(c) When appointing a successor trustee, the court shall first consider the successor trustees named in the trust or, if the trust is a testamentary trust, in the testator‘s will, or, if a successor is not named, another procedure contained in the instrument for the appointment of a successor. When selecting a successor trustee, the court shall also consider the tax, creditor liability, and similar consequences of selecting a certain individual or institution.
(d) Pending a final decision on a petition to remove a trustee, or instead of or in addition to removing a trustee, the court may order relief that is appropriate and necessary to protect the trust property or the interest of the beneficiaries.
(e) A qualified beneficiary who may be represented and bound by another person under Alaska Stat. § 13.06.120 may have the qualified beneficiary’s consent to the removal of a trustee as specified in this section given by the person who may represent the qualified beneficiary under Alaska Stat. § 13.06.120.
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