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Sen. Chris Nybo
Filed: 2/27/2015
| | 09900SB0063sam001 | | LRB099 01013 HEP 27306 a |
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| 1 | | AMENDMENT TO SENATE BILL 63
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 63 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The Trusts and Trustees Act is amended by |
| 5 | | adding Section 18.5 as follows:
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| 6 | | (760 ILCS 5/18.5 new) |
| 7 | | Sec. 18.5. Acceptance of trust terms. By accepting a |
| 8 | | benefit under a trust instrument designed to achieve the effect |
| 9 | | of testation, the beneficiary admits the instrument to be a |
| 10 | | valid trust. A beneficiary of a trust may not accept a benefit |
| 11 | | under the instrument and at the same time set up a claim which |
| 12 | | is contrary to the substantive terms of the trust; however, |
| 13 | | exceptions applicable to the doctrine of election as applied to |
| 14 | | wills also apply to trusts.".
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