§ 1007 — Event affecting administration or distribution

Illinois § 1007

• Jurisdiction: Illinois
• Topic: RIGHTS AND REMEDIES
• Ch. 760: TRUSTS AND FIDUCIARIES
• Act 760 ILCS 3/: Illinois Trust Code.
• Art.: Article 10 - Liability of Trustees and Rights of Persons Dealing With Trustee

Text

If the happening of an event, including, but not limited to, marriage, divorce, performance of educational requirements, or death, affects the administration or distribution of a trust, a trustee who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the trustee's lack of knowledge.

Legislative History

(Source: P.A. 101-48, eff. 1-1-20 .)