(760 ILCS 3/1304)
Creation of power of appointment.
(a) A power of appointment is created only if:
(1) the instrument creating the power:
(A) is valid under applicable law; and
(B) except as otherwise provided in subsection
(b), transfers the appointive property; and
(2) the terms of the instrument creating the power
manifest the donor's intent to create, in a powerholder, a power of appointment over the appointive property exercisable in favor of a permissible appointee.
(b) Subdivision (a)(1)(B) does not apply to the creation of a power of appointment by the exercise of a power of appointment.
(c) A power of appointment may not be created in a deceased individual.
(d) Subject to an applicable rule against perpetuities, a power of appointment may be created in an unborn or unascertained powerholder.
(Source: P.A. 101-48, eff. 1-1-20