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Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 456

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  456.1020.  Intent to exercise — determining intent from residuary clause. — 1.  As used in this section:

  (1)  "Residuary clause" does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause; and

  (2)  "Will" includes a codicil and a testamentary instrument that revises another will.

  2.  A residuary clause in a powerholder's will or a comparable clause in the powerholder's revocable trust manifests the powerholder's intent to exercise a power of appointment only if:

  (1)  The power is a general power exercisable in favor of the powerholder's estate;

  (2)  There is no gift-in-default clause or the clause is ineffective; and

  (3)  The powerholder did not release the power.

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(L. 2016 H.B. 1765)


---- end of effective   28 Aug 2016 ----

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