When the role of the trustee becomes vacant due to death, resignation, or refusal or inability to act, Illinois law provides that the beneficiaries of the trust may appoint a successor trustee. When the amount of each beneficiaries’ interest in the trust estate is known, the beneficiaries with the majority interest may appoint a successor trustee. When the respective amounts of the beneficiaries’ interests are unknown, a majority in number of the beneficiaries who will receive income from the trust estate may appoint a successor trustee.

Ultimately, to ascertain the identity of the successor trustee after one is appointed, your bank may wish to present the living grantor with a Certification of Trust form (there is a sample form in the text of the law) and request that it be completed and returned to the bank.

For resources related to our guidance, please see:

• Trusts and Trustees Act, 760 ILCS 5/13(2) (“In the event of the death, resignation, refusal or inability to act of any trustee . . . if there is no remaining trustee, a successor trustee may be appointed by a majority in interest of the beneficiaries then entitled to receive the income from the trust estate or, if the interest of the income beneficiaries are indefinite, by a majority in number of the beneficiaries then eligible to have the benefit of the income of the trust estate, by an instrument in writing delivered to the successor, who shall become a successor trustee upon written acceptance of the appointment, but no beneficiary who is appointed as a successor trustee shall have any discretion to determine the propriety or amount of any distribution of income or principal to himself or to any person to whom he is legally obligated.”)

• Trusts and Trustees Act, 760 ILCS 5/8.5(a) (“Instead of furnishing a copy of the trust instrument to a person other than the beneficiary, the trustee may furnish to the person a certification of trust containing the following information: . . . .”)