Illinois § 1304

§ 1304.

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) 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. (Source: P.A. 101-48, eff. 1-1-20.)