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Public Act 093-0695
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| HB4389 Enrolled |
LRB093 18305 LCB 44010 b |
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AN ACT concerning trusts.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Trusts and Trustees Act is amended by |
changing Section 4.20 as follows:
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(760 ILCS 5/4.20) (from Ch. 17, par. 1674)
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Sec. 4.20. To distribute income and discretionary amounts |
of principal in such one
or more of the following ways as the |
trustee believes to be for the best
interests of any |
beneficiary who at the time of distribution is under legal
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disability or in the opinion of the trustee is unable properly |
to manage
his affairs because of illness, physical or mental |
disability or any other
cause:
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(a) directly to the beneficiary;
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(b) to a duly appointed guardian of the beneficiary;
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(c) to a custodian for the beneficiary under the Uniform |
Transfers to Minors
Act;
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(d) to an adult relative of the beneficiary;
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(e) by expending the money or using the property directly |
for the
benefit of the beneficiary;
and the trustee is not |
required to see to the application of any
distribution so made; |
and . |
(f) to a trust, created prior to the time the distribution |
becomes payable, for the sole benefit of the beneficiary and |
those dependent upon the beneficiary during his or her |
lifetime, to be administered as a part thereof, except that any |
amounts distributed to the trust pursuant to this paragraph (f) |
shall be separately accounted for by the trustee of the trust |
and shall be indefeasibly vested in the beneficiary so that if |
the beneficiary dies prior to complete distribution of such |
amounts, the amounts and the accretions, earnings, and income |
thereon, if any, shall be paid to the beneficiary's estate; |