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Illinois Statutes Chapter 760. Trusts and Fiduciaries § 3/1313. Substantial compliance with donor-imposed formal requirement

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

§ 1313. Substantial compliance with donor-imposed formal requirement. A powerholder's substantial compliance with a formal requirement of an appointment imposed by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if:

(1) the powerholder knows of and intends to exercise the power; and

(2) the powerholder's manner of attempted exercise of the power does not impair a material purpose of the donor in imposing the requirement.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 760. Trusts and Fiduciaries § 3/1313. Substantial compliance with donor-imposed formal requirement - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-760-trusts-and-fiduciaries/il-st-sect-760-3-1313/

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