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760 ILCS 3/1318

Capture doctrine: disposition of ineffectively appointed property under general power

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.

To the extent a powerholder of a general power of appointment, other than a power to revoke, amend, or withdraw property from a trust, makes an ineffective appointment: (1) the gift-in-default clause controls the disposition of the ineffectively appointed property; or (2) if there is no gift-in-default clause or to the extent the clause is ineffective, the ineffectively appointed property: (A) passes to: (i) the powerholder if the powerholder is a permissible appointee and living; or (ii) if the powerholder is an impermissible appointee or not living, the powerholder's estate if the estate is a permissible appointee; or (B) if there is no taker under subparagraph (A), passes under a reversionary interest to the donor or the donor's transferee or successor in interest.

Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.