Illinois Compiled Statutes 760 ILCS 3/709 – Reimbursement of expenses
Current as of: 2023 | Check for updates
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(a) A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for:
(1) expenses that were properly incurred in the
(1) expenses that were properly incurred in the
administration and protection of the trust; and
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(2) to the extent necessary to prevent unjust
enrichment of the trust, expenses that were not properly incurred in the administration of the trust.
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(b) An advance by the trustee of money for the protection of the trust gives rise to a right to reimbursement with reasonable interest.
Terms Used In Illinois Compiled Statutes 760 ILCS 3/709
- Trustee: A person or institution holding and administering property in trust.