Illinois § 1107 Allocations

Illinois Statutes

§ 1107 — Allocations

Illinois § 1107

JurisdictionIllinois

TopicRIGHTS AND REMEDIES

Ch. 760TRUSTS AND FIDUCIARIES

Act 760 ILCS 3/Illinois Trust Code.

Art.Article 11 - Total Return Trusts

This text of Illinois § 1107 (Allocations) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

760 Ill. Comp. Stat. 1107 (2026).

Text

(a)Expenses, taxes, and other charges that would be deducted from income if the trust were not a total return trust shall not be deducted from the distribution amount.

(b)Unless otherwise provided by the trust instrument, the trustee shall fund the distribution amount each year from the following sources for that year in the order listed:

(1)first from net income (as the term would be determined if the trust were not a total return trust);

(2)then from other ordinary income as determined for federal income tax purposes;

(3)then from net realized short-term capital gains as determined for federal income tax purposes;

(4)then from net realized long-term capital gains as determined for federal income tax purposes;

(5)then from trust principal comprised of assets for which there is a re

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(a) Expenses, taxes, and other charges that would be deducted from income if the trust were not a total return trust shall not be deducted from the distribution amount. (b) Unless otherwise provided by the trust instrument, the trustee shall fund the distribution amount each year from the following sources for that year in the order listed: (1) first from net income (as the term would be determined if the trust were not a total return trust); (2) then from other ordinary income as determined for federal income tax purposes; (3) then from net realized short-term capital gains as determined for federal income tax purposes; (4) then from net realized long-term capital gains as determined for federal income tax purposes; (5) then from trust principal comprised of assets for which there is a readily available market value; and (6) then from other trust principal.