Illinois Statutes

§ 602 — Revocation or amendment of revocable trust

Illinois·Topic RIGHTS AND REMEDIES·Ch. 760 TRUSTS AND FIDUCIARIES·Act 760 ILCS 3/ Illinois Trust Code.·Art. Article 6 - Revocable Trusts
(a)The settlor may revoke a trust only if the trust instrument expressly provides that the trust is revocable or that the settlor has an unrestricted power of amendment. The settlor may amend a trust only if the trust expressly provides that the trust is revocable or amendable by the settlor.
(b)If a revocable trust has more than one settlor:
(1)to the extent the trust consists of community property, the trust may be revoked by either spouse acting alone but may be amended only by joint action of both spouses;
(2)to the extent the trust consists of property other than community property, each settlor may revoke or amend the trust only with regard to the portion of the trust property attributable to that settlor's contribution; and (3) upon the revocation or amendment of the trust by fe

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Legislative History

(Source: P.A. 101-48, eff. 1-1-20 .)

Nearby Sections

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