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Code · Illinois · Chapter 760 — TRUSTS AND FIDUCIARIES · Act 3

Sec. 1007. Event affecting administration or distribution.

61 words·~1 min read·/il/chapter-760/act-3/1007

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Sec. 1007. Event affecting administration or distribution. If the happening of an event, including, but not limited to, marriage, divorce, performance of educational requirements, or death, affects the administration or distribution of a trust, a trustee who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the trustee's lack of knowledge.
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