(760 ILCS 3/1311)
Intent to exercise: determining intent from residuary clause.
(a) In this Section:
(1) "Residuary clause" does not include a residuary
clause containing a blanket-exercise clause or a specific-exercise clause.
(2) "Will" includes a codicil and a testamentary
instrument that revises another will.
(b) A residuary clause in a powerholder's will, or a comparable clause in the powerholder's revocable trust, manifests the powerholder's intent to exercise a power of appointment only if:
(1) the terms of the instrument containing the
residuary clause do not manifest a contrary intent;
(2) the power is a general power exercisable in
favor of the powerholder's estate;
(3) there is no gift-in-default clause or it is
(4) the powerholder did not release the power.
(Source: P.A. 101-48, eff. 1-1-20