In the matter of the John Edward XXXX Trust, the current corporate trustee filed a petition to resign as such. The trust requires there to be a corporate trustee, however, and therefore a new corporate trustee must be appointed as follows: (i) by the current remaining trustees; or (ii) by the exiting corporate trustee. Since neither have been done, the court may deny the petition for resignation. The first rule of trusts, is to follow the rules of the trust.....or, as they say in Oz, "Follow the Yellow Brick Road." Deviate, and little flying monkeys may cart you off.
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