Sec. 401. Methods of creating trust.
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/il/chapter-760/act-3/401A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 401. Methods of creating trust. A trust may be created by:
(1)transfer of property to another person as trustee during the settlor's lifetime or
by will or other disposition taking effect upon the settlor's death;
(2)declaration by the owner of property that the owner holds identifiable property as
trustee;
(3)exercise of a power of appointment in favor of a trustee;
(4)order of a court; or
(5)exercise by an authorized fiduciary of the powers granted in Article 12.