Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if: (1) the power is exercisable only at the powerholder's death; and (2) the permissible appointees of the power are a defined and limited class that does not include the powerholder's estate, the powerholder's creditors, or the creditors of the powerholder's estate.
760 ILCS 3/1307
Exception to presumption of unlimited authority
Known as the Uniform Powers of Appointment Law
The act spans §§ 760-3-1301 to 760-3-1336 (36 sections).
P.A. 101-48, eff. 1-1-20.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.