2018 Illinois Compiled Statutes
Chapter 760 - TRUSTS AND FIDUCIARIES
760 ILCS 105/ - Uniform Powers of Appointment Act.
Article 2 - Creation, Revocation, And Amendment Power Of Appointment

(760 ILCS 105/Art. 2 heading)

(760 ILCS 105/201)
Sec. 201. 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) of this Section 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. 100-1044, eff. 1-1-19.)

(760 ILCS 105/202)
Sec. 202. Nontransferability. A powerholder may not transfer a power of appointment. If the powerholder dies without exercising or releasing the power, the power lapses.
(Source: P.A. 100-1044, eff. 1-1-19.)

(760 ILCS 105/203)
Sec. 203. Presumption of unlimited authority. Subject to Section 205, and unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is:
(1) presently exercisable;
(2) exclusionary; and
(3) except as otherwise provided in Section 204,

general.

(Source: P.A. 100-1044, eff. 1-1-19.)

(760 ILCS 105/204)
Sec. 204. Exception to presumption of unlimited authority. Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if:
(1) the power is exercisable only at the

powerholder's death; and

(2) the permissible appointees of the power are a

defined and limited class that does not include the powerholder's estate, the powerholder's creditors, or the creditors of the powerholder's estate.

(Source: P.A. 100-1044, eff. 1-1-19.)

(760 ILCS 105/205)
Sec. 205. Rules of classification.
(a) In this Section, "adverse party" means a person with a substantial beneficial interest in property which would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.
(b) If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.
(c) If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.
(Source: P.A. 100-1044, eff. 1-1-19.)

(760 ILCS 105/206)
Sec. 206. Power to revoke or amend. A donor may revoke or amend a power of appointment only to the extent that:
(1) the instrument creating the power is revocable

by the donor; or

(2) the donor reserves a power of revocation or

amendment in the instrument creating the power of appointment.

(Source: P.A. 100-1044, eff. 1-1-19.)