ILLINOIS TRUST CODE Senate SponsorsSen. Rachelle Crowe 1/13/2021SenateSession Sine Die New Act760 ILCS 5/Act rep.760 ILCS 35/Act rep.760 ILCS 105/Act rep.765 ILCS 305/Act rep.765 ILCS 310/Act rep.765 ILCS 315/Act rep.30 ILCS 160/2from Ch. 127, par. 400260 ILCS 1/135-20205 ILCS 620/1-6from Ch. 17, par. 1551-6205 ILCS 620/6-10from Ch. 17, par. 1556-10205 ILCS 620/9-5from Ch. 17, par. 1559-5210 ILCS 135/3from Ch. 91 1/2, par. 1703215 ILCS 155/21.1225 ILCS 45/4a225 ILCS 45/5from Ch. 111 1/2, par. 73.105405 ILCS 5/3-605from Ch. 91 1/2, par. 3-605405 ILCS 5/3-819from Ch. 91 1/2, par. 3-819405 ILCS 5/5-105from Ch. 91 1/2, par. 5-105750 ILCS 5/513.5755 ILCS 5/2-7from Ch. 110 1/2, par. 2-7755 ILCS 5/28-8from Ch. 110 1/2, par. 28-8755 ILCS 45/3-4from Ch. 110 1/2, par. 803-4760 ILCS 45/3from Ch. 17, par. 2103805 ILCS 110/46jfrom Ch. 32, par. 185815 ILCS 390/16from Ch. 21, par. 216Creates the Illinois Trust Code. Provides that the Code applies to express trusts, charitable or noncharitable, and trusts created pursuant to a statute, judgment, or decree that requires the trust to be administered in the manner of an express trust. Defines terms. Adds provisions governing: judicial proceedings; representation; creation, validity, modification, and termination of trusts; creditor's claims; spendthrift and discretionary trusts; revocable trusts; the office of trustee; duties and powers of the trustee; the Illinois Prudent Investor Law; life insurance; affiliated investments; liability of trustees and rights of persons dealing with a trustee; total return trusts; trust decanting; the Uniform Powers of Appointment Law; perpetuities; and application of the Code to existing trusts. Repeals the Trusts and Trustees Act, the Trusts and Dissolutions of Marriage Act, the Uniform Powers of Appointment Act (added by Public Act 100-1044), the Statute Concerning Perpetuities, the Perpetuities Vesting Act, and the Trust Accumulation Act. Makes corresponding changes in the Public Use Trust Act, the Township Code, the Corporate Fiduciary Act, the Community-Integrated Living Arrangements Licensure and Certification Act, the Title Insurance Act, the Illinois Funeral or Burial Funds Act, the Mental Health and Developmental Disabilities Code, the Illinois Marriage and Dissolution of Marriage Act, the Probate Act of 1975, the Illinois Power of Attorney Act, the Common Trust Fund Act, the Religious Corporation Act, and the Illinois Pre-Need Cemetery Sales Act. Effective January 1, 2020. 1/31/2019SenateFiled with Secretary by Sen. John G. Mulroe 1/31/2019SenateFirst Reading 1/31/2019SenateReferred to Assignments 2/6/2019SenateAssigned to Judiciary 3/22/2019SenateRule 3-9(a) / Re-referred to Assignments 6/21/2019SenateChief Sponsor Changed to Sen. John J. Cullerton 1/20/2020SenateChief Sponsor Changed to Sen. Don Harmon 2/25/2020SenateChief Sponsor Changed to Sen. Rachelle Crowe 1/13/2021SenateSession Sine Die