760 ILCS 3/1330

Current through Public Act 103-1052

Section 760 ILCS 3/1330 - Power to contract: power of appointment not presently exercisable

A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder:

(1) is also the donor of the power; and

(2) has reserved the power in a revocable trust.

760 ILCS 3/1330

Added by P.A. 101-0048,§ 1330, eff. 1/1/2020.