Illinois § 709 Reimbursement of expenses

Illinois Statutes

§ 709 — Reimbursement of expenses

Illinois·Topic RIGHTS AND REMEDIES·Ch. 760 TRUSTS AND FIDUCIARIES·Act 760 ILCS 3/ Illinois Trust Code.·Art. Article 7 - Office of Trustee

(a)A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for:

(1)expenses that were properly incurred in the administration and protection of the trust; and (2) to the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust.

(b)An advance by the trustee of money for the protection of the trust gives rise to a right to reimbursement with reasonable interest.

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(a) A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for: (1) expenses that were properly incurred in the administration and protection of the trust; and (2) to the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust. (b) An advance by the trustee of money for the protection of the trust gives rise to a right to reimbursement with reasonable interest.

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