(760 ILCS 3/1310)
Sec. 1310. 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 1313, satisfy the requirements of exercise, if any, imposed | ||
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(3) to the extent the appointment is a permissible exercise of the power.
(Source: P.A. 101-48, eff. 1-1-20.) |