Illinois § 1108 Restrictions

Illinois Statutes

§ 1108 — Restrictions

Illinois·Topic RIGHTS AND REMEDIES·Ch. 760 TRUSTS AND FIDUCIARIES·Act 760 ILCS 3/ Illinois Trust Code.·Art. Article 11 - Total Return Trusts

Conversion to a total return trust does not affect any provision in the trust instrument:

(1)directing or authorizing the trustee to distribute principal;

(2)directing or authorizing the trustee to distribute a fixed annuity or a fixed fraction of the value of trust assets;

(3)authorizing a beneficiary to withdraw a portion or all of the principal; or (4) in any manner that would diminish an amount permanently set aside for charitable purposes under the trust instrument unless both income and principal are so set aside.

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Conversion to a total return trust does not affect any provision in the trust instrument: (1) directing or authorizing the trustee to distribute principal; (2) directing or authorizing the trustee to distribute a fixed annuity or a fixed fraction of the value of trust assets; (3) authorizing a beneficiary to withdraw a portion or all of the principal; or (4) in any manner that would diminish an amount permanently set aside for charitable purposes under the trust instrument unless both income and principal are so set aside.

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