Trusteeship Declination
(IL)

Summary

This template is a declination of trusteeship for use by a designated trustee of an existing trust. Designees may use this template to decline appointment to a trusteeship in Illinois. This template contains practical guidance, drafting notes, and an optional clause. A person designated as trustee is not required to accept the trusteeship. 760 ILCS 3/701(b). Accepting a trusteeship requires a formal act, such as complying with a method of acceptance provided in the trust instrument, if any, or by accepting delivery of the trust property or exercising powers or performing duties as trustee. If the designated trustee chooses not to serve, he or she may sign a trusteeship declination form, such as this one. Illinois law does not require the execution of a specific form. A designated trustee who does not accept the trusteeship within 120 days after receiving notice of the designation is deemed to have declined the trusteeship. 760 ILCS 3/701(b). A designee can act to preserve, inspect, or investigate trust property without accepting trusteeship. However, if the designee acts to preserve the property, he or she should also send a declination of trusteeship to the settlor, or if the settlor is deceased or incapacitated, to the qualified beneficiaries. 760 ILCS 3/701(c). For a full listing of key content on creating an estate plan for an individual with a spouse or partner residing in Illinois, see Estate Plan for Individual with Spouse or Partner Resource Kit (IL). For more information about trusts, see Characteristics and Uses of Trusts (IL), Requirements and Restrictions on Trust Purposes and Administration (IL), and Revocation, Amendment, and Termination of Trusts (IL).