Illinois Code § 760 ILCS 3/1216

Change in compensation.
Open in Lexace · Ask the AI about this section
(a) If a first-trust instrument specifies an authorized fiduciary's compensation, the fiduciary may not exercise the decanting power to increase the fiduciary's compensation beyond the specified compensation unless:

 
 
(1) all qualified beneficiaries of the second trust 
 
consent to the increase in a signed record; or 
 
 
(2) the increase is approved by the court.

 
(b) If a first-trust instrument does not specify an authorized fiduciary's compensation, the fiduciary may not exercise the decanting power to increase the fiduciary's compensation above the compensation permitted by Section 708 unless:

 
 
(1) all qualified beneficiaries of the second trust 
 
consent to the increase in a signed record; or 
 
 
(2) the increase is approved by the court.

 
(c) A change in an authorized fiduciary's compensation that is incidental to other changes made by the exercise of the decanting power is not an increase in the fiduciary's compensation for purposes of subsections (a) and (b).

consent to the increase in a signed record; or
consent to the increase in a signed record; or

‹ Prev All Illinois sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.