We do not recommend allowing an authorized signer on the trust unless the trust agreement specifically authorizes the individual to hold that power. If a trustee has signing power, the trustee cannot delegate that power to another individual; the Trusts and Trustees Act prohibits trustees from delegating to others “the performance of any acts involving the exercise of judgment and discretion,” unless the trustee is delegating an investment function and complying with the requirements for delegating investment functions. 760 ILCS 5/5.1. Though, the trustee may delegate any powers to a co-trustee. 760 ILCS 5/4.10.
Can a trust have an authorized signer in addition to a trustee?
—
by