(a) On application of an authorized fiduciary, a person entitled to notice under Section 1207(c), a beneficiary, or, with respect to a charitable interest, the Attorney General or any other person that has standing to enforce the charitable interest, the court may:
         (1) provide instructions to the authorized fiduciary
    
regarding whether a proposed exercise of the decanting power is permitted under this Article and consistent with the fiduciary duties of the authorized fiduciary;
        (2) appoint a special fiduciary and authorize the
    
special fiduciary to determine whether the decanting power should be exercised under this Article and to exercise the decanting power;
        (3) approve an exercise of the decanting power;
lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Illinois Compiled Statutes 760 ILCS 3/1209

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Fiduciary: A trustee, executor, or administrator.
  • Trustee: A person or institution holding and administering property in trust.

         (4) determine that a proposed or attempted exercise
    
of the decanting power is ineffective because:
            (A) after applying Section 1222, the proposed or
        
attempted exercise does not or did not comply with this Article; or
            (B) the proposed or attempted exercise would be
        
or was an abuse of the fiduciary’s discretion or a breach of fiduciary duty;
        (5) determine the extent to which Section 1222
    
applies to a prior exercise of the decanting power;
        (6) provide instructions to the trustee regarding
    
the application of Section 1222 to a prior exercise of the decanting power; or
        (7) order other appropriate relief to carry out the
    
purposes of this Article.
    (b) On application of an authorized fiduciary, the court may approve:
         (1) an increase in the fiduciary’s compensation
    
under Section 1216; or
        (2) a modification under Section 1218 of a provision
    
granting a person the right to remove or replace the fiduciary.
  Previous section
Next section  
 Article 12 Contents