Illinois § 1310 Requisites for exercise of power of appointment

Illinois Statutes

§ 1310 — Requisites for exercise of power of appointment

Illinois·Topic RIGHTS AND REMEDIES·Ch. 760 TRUSTS AND FIDUCIARIES·Act 760 ILCS 3/ Illinois Trust Code.·Art. Article 13 - Uniform Powers of Appointment Law

A power of appointment is exercised only:

(1)if the instrument exercising the power is valid under applicable law;

(2)if the terms of the instrument exercising the power:

(A)manifest the powerholder's intent to exercise the power; and (B) subject to Section 1313, satisfy the requirements of exercise, if any, imposed by the donor; and (3) to the extent the appointment is a permissible exercise of the power.

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A power of appointment is exercised only: (1) if the instrument exercising the power is valid under applicable law; (2) if the terms of the instrument exercising the power: (A) manifest the powerholder's intent to exercise the power; and (B) subject to Section 1313, satisfy the requirements of exercise, if any, imposed by the donor; and (3) to the extent the appointment is a permissible exercise of the power.

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