ILCS » Chapter 760 · Act 15
Illinois Compiled Statutes

760 ILCS 15/1 (2026)

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✓ current as of May 2026
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(760 ILCS 15/1) (from Ch. 30, par. 501)
    Sec. 1. Short Title. This Act may be cited as the Principal and Income Act.
(Source: P.A. 86-1475.)

    
Notes of Decisions
Cited in 4 cases, 1994–2008 · leading case: Brown Bros. Harriman Trust Co. v. Bennett, 827 N.E.2d 1101 (Ill. App. Ct. 2005).
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Brown Bros. Harriman Trust Co. v. Bennett, 827 N.E.2d 1101 (Ill. App. Ct. 2005). “rs Harriman Trust Company, LLC (hereinafter, Brown Brothers Harriman), Peter Babcock and Sheffield Phelps, and the objection raised by respondents, Charles Bennett and Gerald Bennett, that investment advisory and trustee fees had been improperly charged against the trust income…”
Vena v. Vena, 899 N.E.2d 522 (Ill. App. Ct. 2008). “See 760 ILCS 15/2(c) (West 2006) (defining “remainderman” for the Principal and Income Act (760 ILCS 15/1 et seq. (West 2006)) as “the person entitled to principal, including income which has been accumulated and added to principal”); see also Black’s Law Dictionary 1317-18 (8th…”
Vera v. Vera (Ill. App. Ct. 2008). “See 760 ILCS 15/2(c) (West 2006) (defining "remainderman" for the Principal and Income Act (760 ILCS 15/1 et seq. (West 2006)) as "the person entitled to principal, including income which has been accumulated and added to principal"); see also Black's Law Dictionary 1317-18 (8th…”
White v. Stults (In Re White), 174 B.R. 779 (Bankr. S.D. Ill. 1994). “Pursuant to the Principal and Income Act found at 760 ILCS 15/1, et seq., all expenses incurred in connection with the settlement of a decedent’s estate shall be charged against the principal of the estate.”
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