760 ILCS 3/1308: Rules of classification.
Where this section sits in the code
- CHAPTER 760 TRUSTS AND FIDUCIARIES
- Illinois Trust Code.
(a) In this Section, "adverse party" means a person with a substantial beneficial interest in property that would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.
(b) If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.
(c) If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.
Collected 2026-09-15T04:46:44Z. Source file · JSON