` ` `(760 ILCS 3/1211)` ` ` `(Text of Section before amendment by P.A. 102-279` `)` ```
``` ` ` `Sec. 1211. ` `Decanting power under expanded distributive discretion. ` ` ` ```
(a) In this Section:
``` ` ` ` ` `(1) "Noncontingent" right means a right that is not ` | ||

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` ` ` ` `(2) "Successor beneficiary" means a beneficiary that ` | ||

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` ` ` ` ```
(3) "Vested interest" means:
``` ` ` ` ` ` ` `(A) a right to a mandatory distribution that is ` | ||

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` ` ` ` ` ` `(B) a current and noncontingent right, annually ` | ||

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` ` ` ` ` ` `(C) a current and noncontingent right, annually ` | ||

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` ` ` ` ` ` `(D) a presently exercisable general power of ` | ||

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` ` ` ` ` ` `(E) a right to receive an ascertainable part of ` | ||

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` ` ```
(b) Subject to subsection (c) and Section 1214, an authorized fiduciary that has expanded distributive discretion to distribute the principal of a first trust to one or more current beneficiaries may exercise the decanting power over the principal of the first trust.
``` ` ` ```
(c) Subject to Section 1213, in an exercise of the decanting power under this Section, a second trust may not:
``` ` ` ` ` `(1) include as a current beneficiary a person that ` | ||

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` ` ` ` `(2) include as a presumptive remainder beneficiary ` | ||

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` ` ` ` `(3) reduce or eliminate a vested interest.` ` ` ```
(d) Subject to subsection (c)(3) and Section 1214, in an exercise of the decanting power under this Section, a second trust may be a trust created or administered under the law of any jurisdiction and may:
``` ` ` ` ` `(1) retain a power of appointment granted in the ` | ||

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` ` ` ` `(2) omit a power of appointment granted in the first ` | ||

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` ` ` ` `(3) create or modify a power of appointment if the ` | ||

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` ` ` ` `(4) create or modify a power of appointment if the ` | ||

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` ` ```
(e) A power of appointment described in subsection (d)(1) through (4) of subsection (d) may be general or nongeneral. The class of permissible appointees in favor of which the power may be exercised may be broader than or different from the beneficiaries of the first trust.
``` ` ` ```
(f) If an authorized fiduciary has expanded distributive discretion to distribute part but not all of the principal of a first trust, the fiduciary may exercise the decanting power under this Section over that part of the principal over which the authorized fiduciary has expanded distributive discretion.
``` ```
``` `(Source: P.A. 101-48, eff. 1-1-20` `.)` ` ` `(Text of Section after amendment by P.A. 102-279` `)` ` ` `Sec. 1211. ` `Decanting power under expanded distributive discretion. ` ` ` ```
(a) In this Section:
``` ` ` ` ` `(1) "Noncontingent" right means a right that is not ` | ||

| ||

` ` ` ` `(2) "Successor beneficiary" means a beneficiary that ` | ||

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` ` ` ` ```
(3) "Vested interest" means:
``` ` ` ` ` ` ` `(A) a right to a mandatory distribution that is ` | ||

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` ` ` ` ` ` `(B) a current and noncontingent right, annually ` | ||

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` ` ` ` ` ` `(C) a current and noncontingent right, annually ` | ||

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` ` ` ` ` ` `(D) a presently exercisable general power of ` | ||

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` ` ` ` ` ` `(E) a right to receive an ascertainable part of ` | ||

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` ` ```
(b) Subject to subsection (c) and Section 1214, an authorized fiduciary that has expanded distributive discretion to distribute the principal of a first trust to one or more current beneficiaries may exercise the decanting power over the principal of the first trust.
``` ` ` ```
(c) Subject to Section 1213, in an exercise of the decanting power under this Section, a second trust may not:
``` ` ` ` ` `(1) include as a current beneficiary a person that ` | ||

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` ` ` ` `(2) include as a presumptive remainder beneficiary ` | ||

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` ` ` ` `(3) reduce or eliminate a vested interest.` ` ` ```
(d) Subject to subsection (c)(3) and Section 1214, in an exercise of the decanting power under this Section, a second trust may be a trust created or administered under the law of any jurisdiction and may:
``` ` ` ` ` `(1) retain a power of appointment granted in the ` | ||

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` ` ` ` `(2) omit a power of appointment granted in the first ` | ||

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` ` ` ` `(3) create or modify a power of appointment if the ` | ||

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` ` ` ` `(4) create or modify a power of appointment if the ` | ||

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` ` ```
(e) A power of appointment described in subsection (d)(1) through (4) of subsection (d) may be general or nongeneral. The class of permissible appointees in favor of which the power may be exercised may be broader than or different from the beneficiaries of the first trust.
``` ` ` ```
(f) If an authorized fiduciary has expanded distributive discretion to distribute part but not all of the principal of a first trust, the fiduciary may exercise the decanting power under this Section over that part of the principal over which the authorized fiduciary has expanded distributive discretion.
``` ```
``` `(Source: P.A. 101-48, eff. 1-1-20; 102-279, eff. 1-1-22.)` |