§ 1209 — Court involvement

Illinois § 1209

• Jurisdiction: Illinois
• Topic: RIGHTS AND REMEDIES
• Ch. 760: TRUSTS AND FIDUCIARIES
• Act 760 ILCS 3/: Illinois Trust Code.
• Art.: Article 12 - Trust Decanting

Text

(a) On application of an authorized fiduciary, a person entitled to notice under Section 1207(c), a beneficiary, or, with respect to a charitable interest, the Attorney General or any other person that has standing to enforce the charitable interest, the court may: (1) provide instructions to the authorized fiduciary regarding whether a proposed exercise of the decanting power is permitted under this Article and consistent with the fiduciary duties of the authorized fiduciary; (2) appoint a special fiduciary and authorize the special fiduciary to determine whether the decanting power should be exercised under this Article and to exercise the decanting power; (3) approve an exercise of the decanting power; (4) determine that a proposed or attempted exercise of the decanting power is ineffective because: (A) after applying Section 1222, the proposed or attempted exercise does not or did not comply with this Article; or (B) the proposed or attempted exercise would be or was an abuse of the fiduciary's discretion or a breach of fiduciary duty; (5) determine the extent to which Section 1222 applies to a prior exercise of the decanting power; (6) provide instructions to the trustee regarding the application of Section 1222 to a prior exercise of the decanting power; or (7) order other appropriate relief to carry out the purposes of this Article. (b) On application of an authorized fiduciary, the court may approve: (1) an increase in the fiduciary's compensation under Section 1216; or (2) a modification under Section 1218 of a provision granting a person the right to remove or replace the fiduciary.

Legislative History

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