§ 24-2

Illinois § 24-2

• Jurisdiction: Illinois
• Topic: RIGHTS AND REMEDIES
• Ch. 755: ESTATES
• Act 755 ILCS 5/: Probate Act of 1975.
• Art.: Article XXIV - Accounts

Text

Notice of accounting - effect.) Notice of the hearing on any account of a representative of a decedent's estate shall be given as the court directs to unpaid creditors and to all other interested persons. If the account is approved by the court upon the hearing, in the absence of fraud, accident or mistake, the account as approved is binding upon all persons to whom the notice was given. No notice, however, shall be required under this Section either (a) to any person from whom a receipt in full is exhibited to the court or who waives notice, or (b) whenever a trustee of a trust is an interested person, to any beneficiary of the trust by reason of the beneficiary's interest in the trust, but a trustee given notice of an account under this Section shall be liable to the trust beneficiaries for any breach of fiduciary duty by the trustee in connection with the account.

Legislative History

(Source: P.A. 85-994.)