Illinois Compiled Statutes 760 ILCS 3/815 – General powers of trustee
Current as of: 2024 | Check for updates
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(a) A trustee, without authorization by the court, may exercise:
(1) powers conferred by the trust instrument; or
(2) except as limited by the trust instrument:
(A) all powers over the trust property that an
(1) powers conferred by the trust instrument; or
Terms Used In Illinois Compiled Statutes 760 ILCS 3/815
- Fiduciary: A trustee, executor, or administrator.
- Trustee: A person or institution holding and administering property in trust.
(2) except as limited by the trust instrument:
(A) all powers over the trust property that an
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unmarried owner with legal capacity has over individually owned property;
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(B) any other powers appropriate to achieve the
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proper investment, management, and distribution of the trust property; and
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(C) any other powers conferred by this Code.
(b) The exercise of a power is subject to the fiduciary duties prescribed by this Code.
(b) The exercise of a power is subject to the fiduciary duties prescribed by this Code.