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(760 ILCS 3/105)
Default and mandatory rules.
(a) The trust instrument may specify the rights, powers, duties, limitations, and immunities applicable to the trustee, beneficiary, and others and those terms, if not otherwise contrary to law, shall control, except to the extent specifically provided otherwise in this Section. The provisions of this Code apply to the trust to the extent that they are not inconsistent with specific terms of the trust.
(b) Specific terms of the trust prevail over any provision of this Code except:
(1) the requirements for creating a trust;
(2) the duty of a trustee to act in good faith;
(3) the requirement that a trust have a purpose that
is lawful and not contrary to public policy;
(4) the rules governing designated representatives
as provided in Section 307;
(5) the 21-year limitation contained in subsection
(6) the power of the court to modify or terminate a
trust under Sections 411 through 417;
(7) the effect of a spendthrift provision and the
rights of certain creditors and assignees to reach a trust as provided in Article 5;
(8) the requirement under subsection (e) of Section
602 that an agent under a power of attorney must have express authorization in the agency to exercise a settlor's powers with respect to a revocable trust;
(9) the power of the court under subsection (b) of
Section 708 to adjust a trustee's compensation specified in the trust instrument that is unreasonably low or high;
(10) for trusts becoming irrevocable after the
effective date of this Code, the trustee's duty under paragraph (b)(1) of Section 813.1 to provide information to the qualified beneficiaries;
(11) for trusts becoming irrevocable after the
effective date of this Code, the trustee's duty under paragraph (b)(2) of Section 813.1 to provide accountings to the current beneficiaries of the trust;
(12) for trusts becoming irrevocable after the
effective date of this Code, the trustee's duty under paragraph (b)(4) of Section 813.1 to provide accountings to beneficiaries receiving a distribution of the residue of the trust upon a trust's termination;
(13) the effect of an exculpatory term under Section
(14) the rights under Sections 1010 through 1013 of
a person other than a trustee or beneficiary; and
(15) the power of the court to take such action and
exercise such jurisdiction as may be necessary in the interests of equity.
(Source: P.A. 101-48, eff. 1-1-20