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Illinois Statutes Chapter 760. Trusts and Fiduciaries § 3/1223. Trust for care of animal

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 1223. Trust for care of animal.

(a) In this Section:

(1) “Animal trust” means a trust or an interest in a trust created to provide for the care of one or more designated domestic or pet animals.

(2) “Protector” means a person described in paragraph (3) of subsection (b) of Section 408.

(b) The decanting power may be exercised over an animal trust that has a protector to the extent the trust could be decanted under this Article as if each animal that benefits from the trust were an individual, if the protector consents in a signed record to the exercise of the decanting power.

(c) A protector for an animal has the rights under this Article of a qualified beneficiary.

(d) Notwithstanding any other provision of this Article, if a first trust is an animal trust, in an exercise of the decanting power, the second trust must provide that trust property may be applied only to its intended purpose for the period the first trust benefited the animal.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 760. Trusts and Fiduciaries § 3/1223. Trust for care of animal - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-760-trusts-and-fiduciaries/il-st-sect-760-3-1223/

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