Sec. 1112. Application.
157 words·~1 min read·
/il/chapter-760/act-3/1112A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 1112. Application. This Article is available to trusts in existence on or after August 22, 2002. This Article shall be construed as pertaining to the administration of a trust and shall be available to any trust that is administered in Illinois or that is governed by Illinois law with respect to the meaning and effect of its terms unless one of the following apply:
(1)The trust is a trust described in Section 642(c)(5), 664(d), 2702(a)(3), or 2702(b)
of the Internal Revenue Code.
(2)The trust instrument expressly prohibits use of this Article by specific reference
to this Article or a prior corresponding law. A provision in the trust instrument in the form: "Neither the provisions of Article 11 of the Illinois Trust Code nor any corresponding provision of future law may be used in the administration of this trust" or a similar provision demonstrating that intent is sufficient to preclude the use of this Article.