Illinois § 501 Rights of beneficiary's creditor or assignee

Illinois Statutes

§ 501 — Rights of beneficiary's creditor or assignee

Illinois·Topic RIGHTS AND REMEDIES·Ch. 760 TRUSTS AND FIDUCIARIES·Act 760 ILCS 3/ Illinois Trust Code.·Art. Article 5 - Creditor's Claims; Spendthrift and Discretionary Trusts

Except as provided in Section 504, to the extent a beneficiary's interest is not subject to a spendthrift provision, the court may authorize a creditor or assignee of the beneficiary to reach the beneficiary's interest by attachment of present or future distributions to or for the benefit of the beneficiary or other means. The court may limit the award to such relief as is appropriate under the circumstances.

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Except as provided in Section 504, to the extent a beneficiary's interest is not subject to a spendthrift provision, the court may authorize a creditor or assignee of the beneficiary to reach the beneficiary's interest by attachment of present or future distributions to or for the benefit of the beneficiary or other means. The court may limit the award to such relief as is appropriate under the circumstances.

Illinois § 501 (Rights of beneficiary's creditor or assignee) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.