Sec. 1101. Total return trust defined; trustee duty to inform.
102 words·~1 min read·
/il/chapter-760/act-3/1101A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 1101. Total return trust defined; trustee duty to inform.
(a)In this Article, "total return trust" means a trust converted in accordance with this Article that the trustee shall manage and invest seeking a total return without regard to whether the return is from income or appreciation of principal.
(b)Notwithstanding any other provision of this Article, a trustee has no duty to inform beneficiaries about the availability of this Article and has no duty to review the trust to determine whether any action should be taken under this Article unless requested to do so in writing by a qualified beneficiary.