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Illinois Lifetime Transfer of Property Act - 755 ILCS 25, Section 1Legal Research Home > Illinois Lawyer > Lifetime Transfer of Property Act > Illinois Lifetime Transfer of Property Act - 755 ILCS 25, Section 1 An otherwise valid transfer of property, in trust or otherwise, by a decedent during his or her lifetime, shall not, in the absence of an intent to defraud, be invalid, in whole or in part, on the ground that it is illusory because the decedent retained any power or right with respect to the property. (Source: P.A. 80-737.) Illinois Lawyers
Last modified: April 9, 2006 |