Illinois § 1216 Change in compensation

Illinois Statutes

§ 1216 — Change in compensation

Illinois § 1216

JurisdictionIllinois

TopicRIGHTS AND REMEDIES

Ch. 760TRUSTS AND FIDUCIARIES

Act 760 ILCS 3/Illinois Trust Code.

Art.Article 12 - Trust Decanting

This text of Illinois § 1216 (Change in compensation) 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. 1216 (2026).

Text

(a)If a first-trust instrument specifies an authorized fiduciary's compensation, the fiduciary may not exercise the decanting power to increase the fiduciary's compensation beyond the specified compensation unless:

(1)all qualified beneficiaries of the second trust consent to the increase in a signed record; or (2) the increase is approved by the court.

(b)If a first-trust instrument does not specify an authorized fiduciary's compensation, the fiduciary may not exercise the decanting power to increase the fiduciary's compensation above the compensation permitted by Section 708 unless:

(1)all qualified beneficiaries of the second trust consent to the increase in a signed record; or (2) the increase is approved by the court.

(c)A change in an authorized fiduciary's compensation that is

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(a) If a first-trust instrument specifies an authorized fiduciary's compensation, the fiduciary may not exercise the decanting power to increase the fiduciary's compensation beyond the specified compensation unless: (1) all qualified beneficiaries of the second trust consent to the increase in a signed record; or (2) the increase is approved by the court. (b) If a first-trust instrument does not specify an authorized fiduciary's compensation, the fiduciary may not exercise the decanting power to increase the fiduciary's compensation above the compensation permitted by Section 708 unless: (1) all qualified beneficiaries of the second trust consent to the increase in a signed record; or (2) the increase is approved by the court. (c) A change in an authorized fiduciary's compensation that is incidental to other changes made by the exercise of the decanting power is not an increase in the fiduciary's compensation for purposes of subsections (a) and (b).