§ 401 Methods of creating trust
§ 402 Requirements for creation
§ 403 Trusts created in other jurisdictions
§ 404 Trust purposes
§ 405 Charitable purposes; enforcement
§ 406 Creation of trust induced by fraud, duress, or undue influence
§ 407 Evidence of oral trust
§ 408 Trusts for domestic or pet animals
§ 409 Noncharitable trust without ascertainable beneficiary
§ 410 Modification or termination of trust; proceedings for approval or disapproval
§ 411 Modification or termination of noncharitable irrevocable trust by consent
§ 412 Modification or termination because of unanticipated circumstances or …
§ 413 Cy pres
§ 414 Modification or termination of uneconomic trust
§ 415 Reformation to correct mistakes
§ 416 Modification to achieve settlor’s tax objectives
§ 417 Combination and division of trusts

Terms Used In Illinois Compiled Statutes > 760 ILCS 3 > Article 4 - Creation, Validity, Modification, and Termination of Trust

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiduciary: A trustee, executor, or administrator.
  • Fraud: Intentional deception resulting in injury to another.
  • individual: shall include every infant member of the species homo sapiens who is born alive at any stage of development. See Illinois Compiled Statutes 5 ILCS 70/1.36
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Per stirpes: The legal means by which the children of a decedent, upon the death of an ancestor at a level above that of the decedent, receive by right of representation the share of the ancestor
  • Probate: Proving a will
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.