Sec. 1318. Capture doctrine: disposition of ineffectively appointed property under general power.
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/il/chapter-760/act-3/1318A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 1318. Capture doctrine: disposition of ineffectively appointed property under general power. To the extent a powerholder of a general power of appointment, other than a power to revoke, amend, or withdraw property from a trust, makes an ineffective appointment:
(1)the gift-in-default clause controls the disposition of the ineffectively appointed
property; or
(2)if there is no gift-in-default clause or to the extent the clause is ineffective,
the ineffectively appointed property:
(A)passes to:
(i)the powerholder if the powerholder is a permissible appointee and living;
or
(ii)if the powerholder is an impermissible appointee or not living, the
powerholder's estate if the estate is a permissible appointee; or
(B)if there is no taker under subparagraph (A), passes under a reversionary
interest to the donor or the donor's transferee or successor in interest.