Illinois § 1334 Power to withdraw

Illinois Statutes

§ 1334 — Power to withdraw

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)For purposes of Sections 1333 through 1336, and except as otherwise provided in subsection (b), a power to withdraw property from a trust is treated, during the time the power may be exercised, as a presently exercisable general power of appointment to the extent of the property subject to the power to withdraw.

(b)A power to withdraw property from a trust ceases to be treated as a presently exercisable general power of appointment upon its lapse, release, or waiver.

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(a) For purposes of Sections 1333 through 1336, and except as otherwise provided in subsection (b), a power to withdraw property from a trust is treated, during the time the power may be exercised, as a presently exercisable general power of appointment to the extent of the property subject to the power to withdraw. (b) A power to withdraw property from a trust ceases to be treated as a presently exercisable general power of appointment upon its lapse, release, or waiver.

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