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Public Act 100-1044


 

Public Act 1044 100TH GENERAL ASSEMBLY

  
  
  

 


 
Public Act 100-1044
 
HB4702 EnrolledLRB100 13197 HEP 30845 b

    AN ACT concerning civil law.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
Article 1. General provisions.

 
    Section 101. Short title. This Act may be cited as the
Uniform Powers of Appointment Act.
 
    Section 102. Definitions. In this Act:
    (1) "Appointee" means a person to which a powerholder makes
an appointment of appointive property.
    (2) "Appointive property" means the property or property
interest subject to a power of appointment.
    (3) "Blanket-exercise clause" means a clause in an
instrument which exercises a power of appointment and is not a
specific-exercise clause. The term includes a clause that:
        (A) expressly uses the words "any power" in exercising
    any power of appointment the powerholder has;
        (B) expressly uses the words "any property" in
    appointing any property over which the powerholder has a
    power of appointment; or
        (C) disposes of all property subject to disposition by
    the powerholder.
    (4) "Donor" means a person that creates a power of
appointment.
    (5) "Exclusionary power of appointment" means a power of
appointment exercisable in favor of any one or more of the
permissible appointees to the exclusion of the other
permissible appointees.
    (6) "General power of appointment" means a power of
appointment exercisable in favor of a powerholder, the
powerholder's estate, a creditor of the powerholder, or a
creditor of the powerholder's estate.
    (7) "Gift-in-default clause" means a clause identifying a
taker in default of appointment.
    (8) "Impermissible appointee" means a person that is not a
permissible appointee.
    (9) "Instrument" means a writing.
    (10) "Nongeneral power of appointment" means a power of
appointment that is not a general power of appointment.
    (11) "Permissible appointee" means a person in whose favor
a powerholder may exercise a power of appointment.
    (12) "Person" means an individual, estate, business or
nonprofit entity, public corporation, government or
governmental subdivision, agency, or instrumentality, or other
legal entity.
    (13) "Power of appointment" means a power that enables a
powerholder acting in a nonfiduciary capacity to designate a
recipient of an ownership interest in or another power of
appointment over the appointive property. The term does not
include a power of attorney.
    (14) "Powerholder" means a person in which a donor creates
a power of appointment.
    (15) "Presently exercisable power of appointment" means a
power of appointment exercisable by the powerholder at the
relevant time. The term:
        (A) includes a power of appointment exercisable only
    after the occurrence of a specified event, the satisfaction
    of an ascertainable standard, or the passage of a specified
    time only after:
            (i) the occurrence of the specified event;
            (ii) the satisfaction of the ascertainable
        standard; or
            (iii) the passage of the specified time; and
        (B) does not include a power exercisable only at the
    powerholder's death.
    (16) "Record" means information that is inscribed on a
tangible medium or that is stored in an electronic or other
medium and is retrievable in perceivable form.
    (17) "Specific-exercise clause" means a clause in an
instrument which specifically refers to and exercises a
particular power of appointment.
    (18) "Taker in default of appointment" means a person that
takes part or all of the appointive property to the extent the
powerholder does not effectively exercise the power of
appointment.
    (19) "Terms of the instrument" means the manifestation of
the intent of the maker of the instrument regarding the
instrument's provisions as expressed in the instrument or as
may be established by other evidence that would be admissible
in a legal proceeding.
 
    Section 103. Governing law. Unless the terms of the
instrument creating a power of appointment manifest a contrary
intent:
    (1) the creation, revocation, or amendment of the power is
governed by the law of the donor's domicile at the relevant
time; and
    (2) the exercise, release, or disclaimer of the power, or
the revocation or amendment of the exercise, release, or
disclaimer of the power, is governed by the law of the
powerholder's domicile at the relevant time.
 
    Section 104. Common law and principles of equity. The
common law and principles of equity supplement this Act, except
to the extent modified by this Act or law of this State other
than this Act.
 
Article 2. Creation, revocation, and amendment of power of
appointment.

 
    Section 201. Creation of power of appointment.
    (a) A power of appointment is created only if:
        (1) the instrument creating the power:
            (A) is valid under applicable law; and
            (B) except as otherwise provided in subsection
        (b), transfers the appointive property; and
        (2) the terms of the instrument creating the power
    manifest the donor's intent to create, in a powerholder, a
    power of appointment over the appointive property
    exercisable in favor of a permissible appointee.
    (b) Subdivision (a)(1)(B) of this Section does not apply to
the creation of a power of appointment by the exercise of a
power of appointment.
    (c) A power of appointment may not be created in a deceased
individual.
    (d) Subject to an applicable rule against perpetuities, a
power of appointment may be created in an unborn or
unascertained powerholder.
 
    Section 202. Nontransferability. A powerholder may not
transfer a power of appointment. If the powerholder dies
without exercising or releasing the power, the power lapses.
 
    Section 203. Presumption of unlimited authority. Subject
to Section 205, and unless the terms of the instrument creating
a power of appointment manifest a contrary intent, the power
is:
        (1) presently exercisable;
        (2) exclusionary; and
        (3) except as otherwise provided in Section 204,
    general.
 
    Section 204. Exception to presumption of unlimited
authority. 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.
 
    Section 205. Rules of classification.
    (a) In this Section, "adverse party" means a person with a
substantial beneficial interest in property which would be
affected adversely by a powerholder's exercise or nonexercise
of a power of appointment in favor of the powerholder, the
powerholder's estate, a creditor of the powerholder, or a
creditor of the powerholder's estate.
    (b) If a powerholder may exercise a power of appointment
only with the consent or joinder of an adverse party, the power
is nongeneral.
    (c) If the permissible appointees of a power of appointment
are not defined and limited, the power is exclusionary.
 
    Section 206. Power to revoke or amend. A donor may revoke
or amend a power of appointment only to the extent that:
        (1) the instrument creating the power is revocable by
    the donor; or
        (2) the donor reserves a power of revocation or
    amendment in the instrument creating the power of
    appointment.
 
Article 3. Exercise of power of appointment.

 
    Section 301. Requisites for exercise of power of
appointment. A power of appointment is exercised only:
        (1) if the instrument exercising the power is valid
    under applicable law;
        (2) if the terms of the instrument exercising the
    power:
            (A) manifest the powerholder's intent to exercise
        the power; and
            (B) subject to Section 304, satisfy the
        requirements of exercise, if any, imposed by the donor;
        and
        (3) to the extent the appointment is a permissible
    exercise of the power.
 
    Section 302. Intent to exercise: determining intent from
residuary clause.
    (a) In this Section:
        (1) "Residuary clause" does not include a residuary
    clause containing a blanket-exercise clause or a
    specific-exercise clause.
        (2) "Will" includes a codicil and a testamentary
    instrument that revises another will.
    (b) A residuary clause in a powerholder's will, or a
comparable clause in the powerholder's revocable trust,
manifests the powerholder's intent to exercise a power of
appointment only if:
        (1) the terms of the instrument containing the
    residuary clause do not manifest a contrary intent;
        (2) the power is a general power exercisable in favor
    of the powerholder's estate;
        (3) there is no gift-in-default clause or it is
    ineffective; and
        (4) the powerholder did not release the power.
 
    Section 303. Intent to exercise: after-acquired power.
Unless the terms of the instrument exercising a power of
appointment manifest a contrary intent:
        (1) except as otherwise provided in paragraph (2), a
    blanket-exercise clause extends to a power acquired by the
    powerholder after executing the instrument containing the
    clause; and
        (2) if the powerholder is also the donor of the power,
    the clause does not extend to the power unless there is no
    gift-in-default clause or it is ineffective.
 
    Section 304. Substantial compliance with donor-imposed
formal requirement. A powerholder's substantial compliance
with a formal requirement of an appointment imposed by the
donor, including a requirement that the instrument exercising
the power of appointment make reference or specific reference
to the power, is sufficient if:
        (1) the powerholder knows of and intends to exercise
    the power; and
        (2) the powerholder's manner of attempted exercise of
    the power does not impair a material purpose of the donor
    in imposing the requirement.
 
    Section 305. Permissible appointment.
    (a) A powerholder of a general power of appointment that
permits appointment to the powerholder or the powerholder's
estate may make any appointment, including an appointment in
trust or creating a new power of appointment, that the
powerholder could make in disposing of the powerholder's own
property.
    (b) A powerholder of a general power of appointment that
permits appointment only to the creditors of the powerholder or
of the powerholder's estate is restricted to appointing to
those creditors.
    (c) Unless the terms of the instrument creating a power of
appointment manifest a contrary intent, the powerholder of a
nongeneral power may:
        (1) make an appointment in any form, with any
    conditions and limitations, including an appointment in
    trust to any trustee, in favor of a permissible appointee;
        (2) create a general or nongeneral power in a
    permissible appointee that may be exercisable in favor of
    persons other than permissible appointees of the original
    nongeneral power; or
        (3) create a nongeneral power in any person to appoint
    to one or more of the permissible appointees of the
    original nongeneral power.
 
    Section 306. Appointment to deceased appointee. Subject to
Section 4-11 of the Probate Act of 1975, an appointment to a
deceased appointee is ineffective.
 
    Section 307. Impermissible appointment.
    (a) Except as otherwise provided in Section 306, an
exercise of a power of appointment in favor of an impermissible
appointee is ineffective.
    (b) An exercise of a power of appointment in favor of a
permissible appointee is ineffective to the extent the
appointment is a fraud on the power.
 
    Section 308. Selective allocation doctrine. If a
powerholder exercises a power of appointment in a disposition
that also disposes of property the powerholder owns, the owned
property and the appointive property must be allocated in the
permissible manner that best carries out the powerholder's
intent.
 
    Section 309. Capture doctrine: disposition of
ineffectively appointed property under general power. 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.
 
    Section 310. Disposition of unappointed property under
released or unexercised general power. To the extent a
powerholder releases or fails to exercise a general power of
appointment other than a power to revoke, amend, or withdraw
property from a trust:
        (1) the gift-in-default clause controls the
    disposition of the unappointed property; or
        (2) if there is no gift-in-default clause or to the
    extent the clause is ineffective:
            (A) except as otherwise provided in subparagraph
        (B), the unappointed property 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) to the extent the powerholder released the
        power, or if there is no taker under subparagraph (A),
        the unappointed property passes under a reversionary
        interest to the donor or the donor's transferee or
        successor in interest.
 
    Section 311. Disposition of unappointed property under
released or unexercised nongeneral power. To the extent a
powerholder releases, ineffectively exercises, or fails to
exercise a nongeneral power of appointment:
    (1) the gift-in-default clause controls the disposition of
the unappointed property; or
    (2) if there is no gift-in-default clause or to the extent
the clause is ineffective, the unappointed property:
        (A) passes to the permissible appointees if:
            (i) the permissible appointees are defined and
        limited; and
            (ii) the terms of the instrument creating the power
        do not manifest a contrary intent; 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.
 
    Section 312. Disposition of unappointed property if
partial appointment to taker in default. Unless the terms of
the instrument creating or exercising a power of appointment
manifest a contrary intent, if the powerholder makes a valid
partial appointment to a taker in default of appointment, the
taker in default of appointment may share fully in unappointed
property.
 
    Section 313. Appointment to taker in default. If a
powerholder of a general power makes an appointment to a taker
in default of appointment and the appointee would have taken
the property under a gift-in-default clause had the property
not been appointed, the power of appointment is deemed not to
have been exercised, and the appointee takes under the
gift-in-default clause.
 
    Section 314. Powerholder's authority to revoke or amend
exercise. A powerholder may revoke or amend an exercise of a
power of appointment only to the extent that:
        (1) the powerholder reserves a power of revocation or
    amendment in the instrument exercising the power of
    appointment and, if the power is nongeneral, the terms of
    the instrument creating the power of appointment do not
    prohibit the reservation; or
        (2) the terms of the instrument creating the power of
    appointment provide that the exercise is revocable or
    amendable.
 
    Section 315. Disposition of trust property subject to
power. In disposing of trust property subject to a power of
appointment exercisable by an instrument other than a will, a
trustee acting in good faith shall have no liability to any
appointee or taker in default of appointment for relying upon
an instrument believed to be genuine purporting to exercise a
power of appointment or for assuming that there is no
instrument exercising the power of appointment in the absence
of actual knowledge thereof within 3 months of the last date on
which the power of appointment may be exercised.
 
Article 4. Disclaimer or release; contract to appoint or not to
appoint.

 
    Section 401. Disclaimer. As provided by Section 2-7 of the
Probate Act of 1975:
        (1) A powerholder may disclaim all or part of a power
    of appointment.
        (2) A permissible appointee, appointee, or taker in
    default of appointment may disclaim all or part of an
    interest in appointive property.
 
    Section 402. Authority to release. A powerholder may
release a power of appointment, in whole or in part, except to
the extent the terms of the instrument creating the power
prevent the release.
 
    Section 403. Method of release. A powerholder of a
releasable power of appointment may release the power in whole
or in part:
        (1) by substantial compliance with a method provided in
    the terms of the instrument creating the power; or
        (2) if the terms of the instrument creating the power
    do not provide a method or the method provided in the terms
    of the instrument is not expressly made exclusive, by an
    instrument manifesting the powerholder's intent by clear
    and convincing evidence.
 
    Section 404. Revocation or amendment of release. A
powerholder may revoke or amend a release of a power of
appointment only to the extent that:
        (1) the instrument of release is revocable by the
    powerholder; or
        (2) the powerholder reserves a power of revocation or
    amendment in the instrument of release.
 
    Section 405. Power to contract: presently exercisable
power of appointment. A powerholder of a presently exercisable
power of appointment may contract:
        (1) not to exercise the power; or
        (2) to exercise the power if the contract when made
    does not confer a benefit on an impermissible appointee.
 
    Section 406. Power to contract: power of appointment not
presently exercisable. A powerholder of a power of appointment
that is not presently exercisable may contract to exercise or
not to exercise the power only if the powerholder:
        (1) is also the donor of the power; and
        (2) has reserved the power in a revocable trust.
 
    Section 407. Remedy for breach of contract to appoint or
not to appoint. The remedy for a powerholder's breach of a
contract to appoint or not to appoint is limited to damages
payable out of the appointive property or, if appropriate,
specific performance of the contract.
 
Article 5. Rights of powerholder's creditors in appointive
property.

 
    Section 501. Creditor claim: general power created by
powerholder.
    (a) In this Section, "power of appointment created by the
powerholder" includes a power of appointment created in a
transfer by another person to the extent the powerholder
contributed value to the transfer.
    (b) Appointive property subject to a general power of
appointment created by the powerholder is subject to a claim of
a creditor of the powerholder or of the powerholder's estate to
the extent provided in the Uniform Fraudulent Transfer Act.
    (c) Subject to subsection (b), appointive property subject
to a general power of appointment created by the powerholder is
not subject to a claim of a creditor of the powerholder or the
powerholder's estate to the extent the powerholder irrevocably
appointed the property in favor of a person other than the
powerholder or the powerholder's estate.
    (d) Subject to subsections (b) and (c), and notwithstanding
the presence of a spendthrift provision or whether the claim
arose before or after the creation of the power of appointment,
appointive property subject to a general power of appointment
created by the powerholder is subject to a claim of a creditor
of:
        (1) the powerholder, to the same extent as if the
    powerholder owned the appointive property, if the power is
    presently exercisable; and
        (2) the powerholder's estate, to the extent the estate
    is insufficient to satisfy the claim and subject to the
    right of a decedent to direct the source from which
    liabilities are paid, if the power is exercisable at the
    powerholder's death.
 
    Section 502. Creditor claim: general power not created by
powerholder.
    (a) Except as otherwise provided in subsection (b),
appointive property subject to a general power of appointment
created by a person other than the powerholder is subject to a
claim of a creditor of:
        (1) the powerholder, to the extent the powerholder's
    property is insufficient, if the power is presently
    exercisable; and
        (2) the powerholder's estate if the power is exercised
    at the powerholder's death, to the extent the estate is
    insufficient, subject to the right of the deceased
    powerholder to direct the source from which liabilities are
    paid.
    (b) Subject to subsection (c) of Section 504, a power of
appointment created by a person other than the powerholder
which is subject to an ascertainable standard relating to an
individual's health, education, support, or maintenance within
the meaning of 26 U.S.C. 2041(b)(1)(A) or 26 U.S.C. 2514(c)(1),
as amended, is treated for purposes of this Article as a
nongeneral power.
 
    Section 503. Power to withdraw.
    (a) For purposes of this Article, and except as otherwise
provided in subsection (b), a power to withdraw property from a
trust is treated, during the time the power may be exercised,
as a presently exercisable general power of appointment to the
extent of the property subject to the power to withdraw.
    (b) A power to withdraw property from a trust ceases to be
treated as a presently exercisable general power of appointment
upon its lapse, release, or waiver.
 
    Section 504. Creditor claim: nongeneral power.
    (a) Except as otherwise provided in subsections (b) and
(c), appointive property subject to a nongeneral power of
appointment is exempt from a claim of a creditor of the
powerholder or the powerholder's estate.
    (b) Appointive property subject to a nongeneral power of
appointment is subject to a claim of a creditor of the
powerholder or the powerholder's estate to the extent that the
powerholder owned the property and, reserving the nongeneral
power, transferred the property in violation of the Uniform
Fraudulent Transfer Act.
    (c) If the initial gift in default of appointment is to the
powerholder or the powerholder's estate, a nongeneral power of
appointment is treated for purposes of this Section as a
general power.
 
Article 6. Miscellaneous provisions.

 
    Section 601. Uniformity of application and construction.
In applying and construing this uniform Act, consideration must
be given to the need to promote uniformity of the law with
respect to its subject matter among states that enact it.
 
    Section 602. (Blank).
 
    Section 603. Application to existing relationships.
    (a) Except as otherwise provided in this Act, on and after
the effective date of this Act:
        (1) this Act applies to a power of appointment created
    before, on, or after its effective date;
        (2) this Act applies to a judicial proceeding
    concerning a power of appointment commenced on or after its
    effective date;
        (3) this Act applies to a judicial proceeding
    concerning a power of appointment commenced before its
    effective date unless the court finds that application of a
    particular provision of this Act would substantially
    interfere with the effective conduct of the judicial
    proceeding or prejudice a right of a party, in which case
    the particular provision of this Act does not apply and the
    superseded law applies;
        (4) a rule of construction or presumption provided in
    this Act applies to an instrument executed before the
    effective date of the Act unless there is a clear
    indication of a contrary intent in the terms of the
    instrument; and
        (5) an act done before the effective date of this Act
    is not affected by this Act.
    (b) If a right is acquired, extinguished, or barred on the
expiration of a prescribed period that commenced under law of
this State other than this Act before the effective date of
this Act, the law continues to apply to the right.
    (c) No trustee is liable to any person in whose favor a
power of appointment may have been exercised for any
distribution of property made to persons entitled to take in
default of the effective exercise of the power of appointment
to the extent that the distribution shall have been completed
prior to the effective date of this Act.
 
    Section 604. The Probate Act of 1975 is amended by changing
Section 2-7 as follows:
 
    (755 ILCS 5/2-7)  (from Ch. 110 1/2, par. 2-7)
    Sec. 2-7. Disclaimer. (a) Right to Disclaim Interest in
Property. A person to whom any property or interest therein
passes, by whatever means, may disclaim the property or
interest in whole or in part by delivering or filing a written
disclaimer as hereinafter provided. A disclaimer may be of a
fractional share or undivided interest, a specifically
identifiable asset, portion or amount, any limited interest or
estate or any property or interest derived through right of
survivorship. A powerholder, as that term is defined in Section
102 of the Uniform Powers of Appointment Act, power (as defined
in "An Act Concerning Termination of Powers", approved May 25,
1943, as amended) with respect to property shall be deemed to
be a holder of an interest in such property.
    The representative of a decedent or ward may disclaim on
behalf of the decedent or ward with leave of court. The court
may approve the disclaimer by a representative of a decedent if
it finds that the disclaimer benefits the estate as a whole and
those interested in the estate generally even if the disclaimer
alters the distribution of the property, part or interest
disclaimed. The court may approve the disclaimer by a
representative of a ward if it finds that it benefits those
interested in the estate generally and is not materially
detrimental to the interests of the ward. A disclaimer by a
representative of a decedent or ward may be made without leave
of court if a will or other instrument signed by the decedent
or ward designating the representative specifically authorizes
the representative to disclaim without court approval.
    The right to disclaim granted by this Section exists
irrespective of any limitation on the interest of the
disclaimant in the nature of a spendthrift provision or similar
restriction.
    (b) Form of Disclaimer. The disclaimer shall (1) describe
the property or part or interest disclaimed, (2) be signed by
the disclaimant or his representative and (3) declare the
disclaimer and the extent thereof.
    (c) Delivery of Disclaimer. The disclaimer shall be
delivered to the transferor or donor or his representative, or
to the trustee or other person who has legal title to the
property, part or interest disclaimed, or, if none of the
foregoing is readily determinable, shall be either delivered to
a person having possession of the property, part or interest or
who is entitled thereto by reason of the disclaimer, or filed
or recorded as hereinafter provided. In the case of an interest
passing by reason of the death of any person, an executed
counterpart of the disclaimer may be filed with the clerk of
the circuit court in the county in which the estate of the
decedent is administered, or, if administration has not been
commenced, in which it could be commenced. If an interest in
real property is disclaimed, an executed counterpart of the
disclaimer may be recorded in the office of the recorder in the
county in which the real estate lies, or, if the title to the
real estate is registered under "An Act concerning land
titles", approved May 1, 1897, as amended, may be filed in the
office of the registrar of titles of such county.
    (d) Effect of Disclaimer. Unless expressly provided
otherwise in an instrument transferring the property or
creating the interest disclaimed, the property, part or
interest disclaimed shall descend or be distributed (1) if a
present interest (a) in the case of a transfer by reason of the
death of any person, as if the disclaimant had predeceased the
decedent; (b) in the case of a transfer by revocable instrument
or contract, as if the disclaimant had predeceased the date the
maker no longer has the power to transfer to himself or another
the entire legal and equitable ownership of the property or
interest; or (c) in the case of any other inter vivos transfer,
as if the disclaimant had predeceased the date of the transfer;
and (2) if a future interest, as if the disclaimant had
predeceased the event that which determines that the taker of
the property or interest has become finally ascertained and his
interest has become indefeasibly fixed both in quality and
quantity; and in each case the disclaimer shall relate back to
such date for all purposes.
    A disclaimer of property or an interest in property shall
not preclude any disclaimant from receiving the same property
in another capacity or from receiving other interests in the
property to which the disclaimer relates.
    Unless expressly provided otherwise in an instrument
transferring the property or creating the interest disclaimed,
a future interest limited to take effect at or after the
termination of the estate or interest disclaimed shall
accelerate and take effect in possession and enjoyment to the
same extent as if the disclaimant had died before the date to
which the disclaimer relates back.
    A disclaimer made pursuant to this Section shall be
irrevocable and shall be binding upon the disclaimant and all
persons claiming by, through or under the disclaimant.
    (e) Waiver and Bar. The right to disclaim property or a
part thereof or an interest therein shall be barred by (1) a
judicial sale of the property, part or interest before the
disclaimer is effected; (2) an assignment, conveyance,
encumbrance, pledge, sale or other transfer of the property,
part or interest, or a contract therefor, by the disclaimant or
his representative; (3) a written waiver of the right to
disclaim; or (4) an acceptance of the property, part or
interest by the disclaimant or his representative. Any person
may presume, in the absence of actual knowledge to the
contrary, that a disclaimer delivered or filed as provided in
this Section is a valid disclaimer that which is not barred by
the preceding provisions of this paragraph.
    A written waiver of the right to disclaim may be made by
any person or his representative and an executed counterpart of
a waiver of the right to disclaim may be recorded or filed, all
in the same manner as provided in this Section with respect to
a disclaimer.
    In every case, acceptance must be affirmatively proved in
order to constitute a bar to a disclaimer. An acceptance of
property or an interest in property shall include the taking of
possession, the acceptance of delivery or the receipt of
benefits of the property or interest; except that (1) in the
case of an interest in joint tenancy with right of survivorship
such acceptance shall extend only to the fractional share of
such property or interest determined by dividing the number one
by the number of joint tenants, and (2) in the case of a ward,
such acceptance shall extend only to property actually received
by or on behalf of the ward or his representative during his
minority or incapacity. The mere lapse of time or creation of
an interest, in joint tenancy with right of survivorship or
otherwise, with or without knowledge of the interest on the
part of the disclaimant, shall not constitute acceptance for
purposes of this Section.
    This Section does not abridge the right of any person to
assign, convey, release, renounce or disclaim any property or
interest therein arising under any other statute or that which
arose under prior law.
    Any interest in real or personal property that which exists
on or after the effective date of this Section may be
disclaimed after that date in the manner provided herein, but
no interest that which has arisen prior to that date in any
person other than the disclaimant shall be destroyed or
diminished by any action of the disclaimant taken pursuant to
this Section.
(Source: P.A. 83-1362.)
 
    (755 ILCS 5/4-2 rep.)
    Section 604.1. The Probate Act of 1975 is amended by
repealing Section 4-2.
 
    (765 ILCS 320/Act rep.)
    Section 604.2. The Power of Appointment Exercise Act is
repealed.
 
    (765 ILCS 325/Act rep.)
    Section 604.3. The Termination of Powers Act is repealed.

Effective Date: 1/1/2019