An authorized fiduciary may not exercise the decanting power to modify a provision in the first-trust instrument granting another person power to remove or replace the fiduciary unless:
         (1) the person holding the power consents to the
    
modification in a signed record and the modification applies only to the person;
        (2) the person holding the power and the qualified
    
beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or
        (3) the court approves the modification and the
    
modification grants a substantially similar power to another person.

Terms Used In Illinois Compiled Statutes 760 ILCS 3/1218

  • Fiduciary: A trustee, executor, or administrator.
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