Illinois General Assembly - Illinois Compiled Statutes

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760 ILCS 3/412

(760 ILCS 3/412)

Sec. 412. Modification or termination because of unanticipated circumstances or inability to administer trust effectively.

(a)  The court may modify the administrative or dispositive terms of a trust or terminate the trust if, because of circumstances not anticipated by the settlor, modification or termination will further the purposes of the trust. To the extent practicable, the modification must be made in accordance with the settlor's probable intention.

(b)  The court may modify the administrative terms of a trust if continuation of the trust on its existing terms would be impracticable or wasteful or impair the trust's administration.

(c)  Upon termination of a trust under this Section, the court shall order the distribution of the trust property as agreed by the beneficiaries, or if the beneficiaries cannot agree, then as the court determines is equitable and consistent with the purposes of the trust.

(d) Notwithstanding any other provision in this Section, if the trust contains a charitable interest, the modification cannot diminish the charitable interest or alter the charitable purpose, except as would be permitted under Section 413, and upon termination of a trust under this Section, any charitable distribution shall be made in a manner consistent with the settlor's charitable purpose as determined by the court.

(Source: P.A. 101-48, eff. 1-1-20.)