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Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 456

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  456.1055.  Capture doctrine — disposition of ineffectively appointed property under general power. — To the extent a powerholder of a general power of appointment, other than a power to withdraw property from, revoke, or amend a trust, makes an ineffective appointment:

  (1)  The gift-in-default clause controls the disposition of the ineffectively appointed property; or

  (2)  If there is no gift-in-default clause or to the extent the clause is ineffective, the ineffectively appointed property:

  (a)  Passes to the powerholder if the powerholder is a permissible appointee and living; or

  (b)  If the powerholder is an impermissible appointee or deceased, passes to the powerholder's estate if the estate is a permissible appointee; or

  (c)  If there is no taker under paragraph (a) or (b) of this subdivision, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.

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(L. 2016 H.B. 1765)


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

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