760 ILCS 3/1307

Current through Public Act 103-1052

Section 760 ILCS 3/1307 - Exception to presumption of unlimited authority

Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if:

(1) the power is exercisable only at the powerholder's death; and

(2) the permissible appointees of the power are a defined and limited class that does not include the powerholder's estate, the powerholder's creditors, or the creditors of the powerholder's estate.

760 ILCS 3/1307

Added by P.A. 101-0048,§ 1307, eff. 1/1/2020.