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HB1017 Enrolled |
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LRB093 05546 DRJ 05638 b |
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| AN ACT in relation to trusts.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Trusts and Trustees Act is amended by |
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| adding Section 15.2 as
follows:
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| (760 ILCS 5/15.2 new)
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| Sec. 15.2. Trusts for domestic or pet animals.
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| (a) A trust for the care of one or more designated domestic |
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| or pet
animals is valid. The trust terminates when no living |
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| animal is covered by the
trust. A governing instrument shall be |
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| liberally construed to bring the
transfer
within this Section, |
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| to presume against a merely precatory or honorary nature
of its |
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| disposition, and to carry out the general intent of the |
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| transferor.
Extrinsic evidence is admissible in determining |
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| the transferor's intent.
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| (b) A trust for the care of one or more designated domestic |
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| or pet
animals is subject to the following provisions:
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| (1) Except as expressly provided otherwise in the
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| instrument creating the trust, no portion of the principal |
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| or income
of the trust may be converted to the use of the |
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| trustee or to a use
other than for the trust's purposes or |
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| for the benefit of a covered animal.
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| (2) Upon termination, the trustee shall transfer the |
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| unexpended
trust property in the following order:
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| (A) as directed in the trust instrument;
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| (B) if there is no such direction in the trust |
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| instrument and if the
trust was created in a |
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| non-residuary clause in
the transferor's will, then |
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| under
the residuary clause in the transferor's will; or
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| (C) if no taker is produced by the application of
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| subparagraph (A) or (B), then to the transferor's |
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| heirs, determined
according to Section 2-1 of the |