Illinois General Assembly

  Bills & Resolutions  
  Compiled Statutes  
  Public Acts  
  Legislative Reports  
  IL Constitution  
  Legislative Guide  
  Legislative Glossary  

 Search By Number
 (example: HB0001)
Search Tips

Search By Keyword

Public Act 100-1059


 

Public Act 1059 100TH GENERAL ASSEMBLY

  
  
  

 


 
Public Act 100-1059
 
HB5047 EnrolledLRB100 18696 JLS 33928 b

    AN ACT concerning civil law.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Probate Act of 1975 is amended by changing
Sections 4a-5 and 4a-10 as follows:
 
    (755 ILCS 5/4a-5)
    Sec. 4a-5. Definitions. As used in this Article:
    (1) "Caregiver" means a person who voluntarily, or in
exchange for compensation, has assumed responsibility for all
or a portion of the care of another person who needs assistance
with activities of daily living. "Caregiver" includes a
caregiver's spouse, cohabitant, child, or employee.
"Caregiver" does not include a family member of the person
receiving assistance.
    (2) "Family member" means a spouse, civil union partner,
child, grandchild, sibling, aunt, uncle, niece, nephew, first
cousin, or parent of the person receiving assistance.
    (3) "Transfer instrument" means the legal document
intended to effectuate a transfer effective on or after the
transferor's death and includes, without limitation, a will,
trust, transfer on death instrument, deed, form designated as
payable on death, contract, or other beneficiary designation
form.
    (4) "Transferee" means a legatee, a beneficiary of a trust,
a grantee of a deed, or any other person designated in a
transfer instrument to receive a nonprobate transfer.
    (5) "Transferor" means a testator, settlor, grantor of a
deed, or a decedent whose interest is transferred pursuant to a
nonprobate transfer.
(Source: P.A. 98-1093, eff. 1-1-15.)
 
    (755 ILCS 5/4a-10)
    Sec. 4a-10. Presumption of void transfer.
    (a) In any civil action in which a transfer instrument is
being challenged, there is a rebuttable presumption, except as
provided in Section 4a-15, that the transfer instrument is void
if the transferee is a caregiver and the fair market value of
the transferred property exceeds $20,000.
    (b) Unless a shorter limitations period is required by
Section 8-1 or 18-12 of this Act, any action under this Section
shall be filed within 2 years of the date of death of the
transferor.
    (c) If the property in question is an interest in real
property, a bona fide purchaser or mortgagee for value shall
take the subject property free and clear of the action
challenging the transfer instrument if the transfer to the bona
fide purchaser or mortgagee for value occurs prior to the
recordation of a lis pendens for an action under this Section.
    (d) If the holder of property subject to this Article is a
financial institution, trust company, trustee, or similar
entity or person, including a subsidiary or affiliate thereof,
it is not liable for distributing or releasing the property to
the transferee, if:
        (1) in the case of funds in an account maintained by
    the holder, the distribution or release occurs prior to the
    date the holder imposes a prompt administrative freeze of
    the account after the holder's registered agent for service
    of process has first received actual written notice that a
    complaint has been filed challenging the transfer
    instrument, which notice must include a copy of the
    complaint; or
        (2) in the case of any other property, the distribution
    or release occurs prior to the date the holder's registered
    agent for service of process receives actual written notice
    that a complaint has been filed challenging the transfer
    instrument, which notice must include a copy of the
    complaint with sufficient time for the holder to act upon
    the notice.
    (e) The administrative freeze of an account described in
paragraph (1) of subsection (d) shall be implemented promptly.
In determining whether the administrative freeze was
implemented promptly, the Court shall take into consideration
the manner, time, and place of service and other factors
reasonably affecting the financial institution's ability to
promptly freeze the account.
(Source: P.A. 98-1093, eff. 1-1-15.)
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 8/24/2018