Sen. Chris Nybo

Filed: 2/27/2015

 

 


 

 


 
09900SB0063sam001LRB099 01013 HEP 27306 a

1
AMENDMENT TO SENATE BILL 63

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