Bill Amendment: IL SB0063 | 2015-2016 | 99th General Assembly

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: TRUSTS AND TRUSTEES-ACCEPTANCE

Status: 2015-10-10 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments [SB0063 Detail]

Download: Illinois-2015-SB0063-Senate_Amendment_001.html

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Sen. Chris Nybo

Filed: 2/27/2015

09900SB0063sam001 LRB099 01013 HEP 27306 a
AMENDMENT TO SENATE BILL 63
AMENDMENT NO. ______. Amend Senate Bill 63 by replacing
everything after the enacting clause with the following:
"Section 5. The Trusts and Trustees Act is amended by
adding Section 18.5 as follows:
(760 ILCS 5/18.5 new)
Sec. 18.5. Acceptance of trust terms. By accepting a
benefit under a trust instrument designed to achieve the effect
of testation, the beneficiary admits the instrument to be a
valid trust. A beneficiary of a trust may not accept a benefit
under the instrument and at the same time set up a claim which
is contrary to the substantive terms of the trust; however,
exceptions applicable to the doctrine of election as applied to
wills also apply to trusts.".