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760 ILCS 3/813.2. (760 ILCS 3/813.2) Sec. 813.2. Duty to inform and account for pre-2020 trusts. (a) This Section applies to all trusts created under a trust instrument that became irrevocable before the effective date of this Code and to a trustee of a revocable trust who accepted the trustee's trusteeship before the effective date of this Code.
- 760 ILCS 3/813.1
Sec. 813.1. Duty to inform and account; trusts irrevocable...
- 760 ILCS 3/813.1
ILLINOIS TRUST CODE On July 12, 2019, Governor Pritzker signed HB 1471, creating the Illinois Trust Code (ITC). The ITC, essentially a new set of laws applicable to various trusts in Illinois, is effective Janu-ary 1, 2020. Its precursor was the Illinois Trusts and Trustees Act. The ITC was developed primarily to reflect the Uniform
Chapter 760 - TRUSTS AND FIDUCIARIES. 760 ILCS 3/ - Illinois Trust Code. Next. Article 1 - General Provisions and Definitions. Article 2 - Judicial Proceedings. Article 3 - Representation. Article 4 - Creation, Validity, Modification, and Termination of Trust. Article 5 - Creditor's Claims; Spendthrift and Discretionary Trusts.
(a) This Section applies to all trusts created under a trust instrument that became irrevocable before the effective date of this Code and to a trustee of a revocable trust who accepted the trustee's trusteeship before the effective date of this Code.
Sec. 813.1. Duty to inform and account; trusts irrevocable and trustees accepting appointment after effective date of Code. (a) This Section applies to all trusts created under a trust instrument that became irrevocable after the effective date of this Code and, subject to Section 603, to all revocable trusts except with respect to a trustee of ...
1 sty 2020 · pdf Current through Public Act 103-1052 Section 760 ILCS 3/813.2 - Duty to inform and account for pre-2020 trusts (a) This Section applies to all trusts created under a trust instrument that became irrevocable before the effective date of this Code and to a trustee of a revocable trust who accepted the trustee's trusteeship before the effective ...
The New Illinois Trust Code: Practical Pointers A summary of key provisions, including practical reminders, that should help trustees get up to speed quickly on the new Illinois Trust Code. BY DANIEL P. FELIX THE ILLINOIS TRUST CODE (“CODE”), WHICH BECOMES EFFECTIVE JAN. 1, 2020,
