I need to change the trustee on my ilit, when we set it up we put in aprovision for change of trustee, what papers are involved

It depends on exactly what the provisions are for changing the trustee. Usually you can send the current trustee a notice that s/he's being fired (you might want to be a little more tactful than that) and you can sign a notarized statement appointing a new trustee. The trust usually states that the old trustee cannot be fired until the new trustee has "accepted" his/her duties by signing a document that says, in effect "I accept". Unless real estate is involved, that's about it. Of course, you will also need to notify the insurance company that there is a new trustee and give them the new trustee's contact information. The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.

You need to look at the ILIT provisions for the change in trustee. The document should spell out the requirements for change. If the document is silent, you need to discuss this with an estate planning attorney. Why not call the attorney who drafted the ILIT for a specific answer under the document or under NJ law? Hope this helps. If you think this post was helpful, please check the thumbs up (helpful) tab below. Thanks. LEGAL DISCLAIMER Mr. Fromm is licensed to practice law in PA with offices in Philadelphia and Montgomery Counties. He can be reached at 215-735-2336 or at the email address listed below. He has received a 9.7 rating from and recently was featured as a 5Star Wealth Manager in the Philadelphia Magazine, November 2009 issue on page 123. Mr. Fromm is ethically required to state that the response herein is not legal advice and does not create an attorney/ client relationship. Also, there are no recognized legal specialties under Pennsylvania law. Any references to a trust, estate or tax lawyer refer only to the fact that Mr. Fromm limits his practice to these areas of the law. These responses are only in the form of legal education and are intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make such reply unsuitable. Mr. Fromm strongly advises the questioner to confer with an attorney in their state in order to ensure proper advice is received. By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your jurisdiction, who is familiar with your specific facts and all of the circumstances and with whom you have an attorney client relationship. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question. Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.