Illinois § 1333 Creditor claim: general power not created by powerholder

Illinois Statutes

§ 1333 — Creditor claim: general power not created by powerholder

Illinois § 1333

JurisdictionIllinois

TopicRIGHTS AND REMEDIES

Ch. 760TRUSTS AND FIDUCIARIES

Act 760 ILCS 3/Illinois Trust Code.

Art.Article 13 - Uniform Powers of Appointment Law

This text of Illinois § 1333 (Creditor claim: general power not created by powerholder) 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. 1333 (2026).

Text

(a)Except as otherwise provided in subsection (b), appointive property subject to a general power of appointment created by a person other than the powerholder is subject to a claim of a creditor of:

(1)the powerholder, to the extent the powerholder's property is insufficient, if the power is presently exercisable; and (2) the powerholder's estate if the power is exercised at the powerholder's death, to the extent the estate is insufficient, subject to the right of the deceased powerholder to direct the source from which liabilities are paid.

(b)Subject to subsection (c) of Section 1335, a power of appointment created by a person other than the powerholder that is subject to an ascertainable standard relating to an individual's health, education, support, or maintenance within the meani

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(a) Except as otherwise provided in subsection (b), appointive property subject to a general power of appointment created by a person other than the powerholder is subject to a claim of a creditor of: (1) the powerholder, to the extent the powerholder's property is insufficient, if the power is presently exercisable; and (2) the powerholder's estate if the power is exercised at the powerholder's death, to the extent the estate is insufficient, subject to the right of the deceased powerholder to direct the source from which liabilities are paid. (b) Subject to subsection (c) of Section 1335, a power of appointment created by a person other than the powerholder that is subject to an ascertainable standard relating to an individual's health, education, support, or maintenance within the meaning of Section 2041(b)(1)(A) of the Internal Revenue Code or Section 2514(c)(1) of the Internal Revenue Code, as amended, is treated for purposes of this Article as a nongeneral power.