Section 456.1115

Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 456

Effective - 28 Aug 2016   

  456.1115.  Creditor claim — nongeneral power. — 1.  Except as otherwise provided in subsections 2 and 3 of this section, appointive property subject to a nongeneral power of appointment is exempt from a claim of a creditor of the powerholder or the powerholder's estate.

  2.  Appointive property subject to a nongeneral power of appointment is subject to a claim of a creditor of the powerholder or the powerholder's estate to the extent that the powerholder owned the property and, reserving the nongeneral power, transferred the property in violation of chapter 428.

  3.  If the initial gift-in-default of appointment is to the powerholder or the powerholder's estate, a nongeneral power of appointment is treated for purposes of sections 456.1100 to 456.1115 as a general power.

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(L. 2016 H.B. 1765)