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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. Article 6 - Revocable Trusts. Article 7 - Office of Trustee.
- Article 1 - General Provisions and Definitions :: 2019 Illinois ...
Except as otherwise provided, this Code applies to express...
- Article 1 - General Provisions and Definitions :: 2019 Illinois ...
Except as otherwise provided, this Code applies to express trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust.
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. Article 6 - Revocable Trusts. Article 7 - Office of Trustee.
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 Trust Code (UTC) in its terminology, structure and number-ing system.
1 sty 2020 · Browse Illinois Compiled Statutes | Act 3 - [Effective 1/1/2020] Illinois Trust Code for free on Casetext.
(1) A person establishing a trust may specify in the instrument the rights, powers, duties, limitations and immunities applicable to the trustee, beneficiary and others and those provisions where not otherwise contrary to law shall control, notwithstanding this Act.
This Alert is the third installment in a six-part series on the new Illinois Trust Code (“ITC”), a version of the Uniform Trust Code (“UTC”), which goes into effect on January 1, 2020. This series highlights the significant changes to Illinois law and also notes where the Illinois statute varies from the UTC.
