Sometimes the worst decisions we make are made because of two reasons – first, they are easy to make and second, the decision does not cost us anything – we can make that decision without incurring a cost.
Nowhere is this more evident than in the naming of a trustee for your ILIT.

Naming a non-professional as your ILIT trustee is problematic because:

1. They do not have the requisite knowledge needed to manage a life insurance
   policy.
2. They do not have the time.
3. They do not have a procedure in place to manage your ILIT
4. They do not have the wherewithal to understand the trust document.
5. They have trouble being unbiased about beneficiaries.
6. You are putting your friend, family member or business associate in a position
   with potential liability.
7. Unlike a corporate trustee, a non-professional trustee
   may pass away long before you do.