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Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 456

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  456.985.  Act to govern powers — exceptions. — 1.  Except as otherwise provided in the terms of an instrument creating or exercising a power of appointment, sections 456.970 to 456.1135 govern powers of appointment.

  2.  The terms of an instrument creating or exercising a power of appointment prevail over any provisions of sections 456.970 to 456.1135 except:

  (1)  The requisites for the creation of a power of appointment under subsections 1 to 4 of section 456.990;

  (2)  The transferability of a power of appointment by a powerholder under subsection 1 of section 456.995;

  (3)  The limitations on the authority of a donor to extend a general power of appointment beyond the death of a powerholder under subsection 3 of section 456.995;

  (4)  The power is exclusionary if the permissible appointees of a power of appointment are not defined and limited under subsection 3 of section 456.1005;

  (5)  The requisites for the exercise of a power of appointment under section 456.1015;

  (6)  The effect of an impermissible appointment under section 456.1045;

  (7)  A general power of appointment which is presently exercisable may be reached by the creditors of the powerholder or the powerholder's estate under section 456.1100.

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(L. 2016 H.B. 1765, A.L. 2018 H.B. 1250)


---- end of effective   28 Aug 2018 ----

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