|09700HB4662ham002||- 2 -||LRB097 14569 WGH 67987 a|
non-exercise of all powers of appointment; and
(2) no beneficiary to whom notice was sent objects to
the distribution in writing delivered to the trustee within
60 days after the notice is sent ("notice period").
A trustee is not required to provide a copy of the notice
to a beneficiary who is known to the trustee but who cannot be
located by the trustee after reasonable diligence or who is not
known to the trustee.
If a charity is a current beneficiary or presumptive
remainder beneficiary of the trust, the notice shall also be
given to the Attorney General's Charitable Trust Bureau.
on page 9 by replacing lines 2 through 5 with the following:
exercise of the trustee's powers. The trustee has the
burden of proving the proposed exercise of the power
furthers the purposes of the trust.
on page 9, line 24, by replacing "
" with "
lengthen its perpetuities period
on page 10 by replacing lines 25 and 26 with the following:
provision of applicable law, or a court order. In addition,
distribution of trust principal to a second trust may be made
by agreement between a trustee and all primary beneficiaries of
|09700HB4662ham002||- 3 -||LRB097 14569 WGH 67987 a|
a first trust, acting either individually or by their
respective representatives in accordance with Section 16.1 of
on page 16, line 9, by replacing "
" with "
the settlor of a first trust is not also the settlor of a
second trust, then the settlor of the first trust shall be
considered the settlor of the second trust, but only with
respect to the portion of second trust distributed from the
first trust in accordance with this Section
on page 17, line 5, by replacing "
" with "
Except for a
distribution of trust principal from a first trust to a second
trust made by agreement in accordance with Section 16.1 of this