Bill Title: Amends the Trusts and Trustees Act. Adds provisions establishing a directed trust as a type of trust and establishes responsibilities among a distribution trust advisor, trust protector, and other parties to the trust. Provides that the changes to a trustee's powers in a directed trust apply to all trusts in existence on the effective date and all trusts created after that date. Provisions concerning the administration of a trust are available to any trust that is administered in Illinois or governed by Illinois law unless the trust instrument expressly prohibits the use of one or more those provisions by specific reference.

Sponsorship: Partisan Bill (Democrat 2)

Status: (Passed) 2012-08-10 - Public Act . . . . . . . . . 97-0921 [HB4663 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Chaptered	2012-08-10	HTML/Text	Link	View
Enrolled	2012-05-17	HTML/Text	Link	View
Engrossed	2012-03-29	HTML/Text	Link	View
Amended	2012-03-26	HTML/Text	Link	View
Amended	2012-03-16	HTML/Text	Link	View
Introduced	2012-02-01	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB4663

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB4663 currently on file.