Bill Status of HB 4664   97th General Assembly

Short Description:  TRUSTS-VIRTUAL REPRESENTATION

House Sponsors
Rep. Emily McAsey

Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
760 ILCS 5/5.3
760 ILCS 5/16.1

Synopsis As Introduced
Amends the Trust and Trustees Act. Defines terms. Provides that an "unascertainable beneficiary" may be represented by and bound by another beneficiary having a substantially similar (instead of a substantially identical) interest on a particular question or dispute. Provides that if a trust beneficiary is an unrepresented minor, disabled, or unborn person, a parent of the beneficiary may represent and bind the beneficiary, provided that there is no material conflict of interest between the minor or disabled person and either of that person's parents on that particular question or dispute. Further provides that this representative may on a particular question or dispute represent and bind an unborn beneficiary or an unascertainable beneficiary who has an interest that is substantially similar to the interest of the minor or disabled person, but only if there is no material conflict of interest between the minor or the disabled person and the unborn or the unascertainable person. Makes other corresponding changes. Provides that conversion of a trust to a total return trust may be made with a trustee and all primary beneficiaries (instead of with a trustee and all beneficiaries and presumptive remaindermen beneficiaries) in accordance with other provisions of the Act. Provides that changes made apply to all trusts in existence on the effective date and to all trusts created after that date.

Actions 
DateChamber Action
  2/1/2012HouseFiled with the Clerk by Rep. Emily McAsey
  2/3/2012HouseFirst Reading
  2/3/2012HouseReferred to Rules Committee
  2/7/2012HouseAssigned to Judiciary I - Civil Law Committee
  2/29/2012HouseDo Pass / Short Debate Judiciary I - Civil Law Committee; 011-000-000
  3/1/2012HousePlaced on Calendar 2nd Reading - Short Debate
  3/9/2012HouseSecond Reading - Short Debate
  3/9/2012HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/26/2012HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Emily McAsey
  3/26/2012HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  3/28/2012HouseHouse Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 004-000-000
  3/30/2012HouseRule 19(a) / Re-referred to Rules Committee
  1/8/2013HouseSession Sine Die

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