10-7.3 – Creditors of the Donee; Power Subject to a Condition
§ 10-7.3 Creditors of the donee; power subject to a condition A general power of appointment may be created subject to a condition precedent or subsequent, and until the condition is fulfilled, it is not subject to the provisions of 10-7.2.
10-7.4 – Creditors of the Donee; General Power Not Presently Exercisable
§ 10-7.4 Creditors of the donee; general power not presently exercisable (a) Property covered by a general power of appointment which, when created, is not presently exercisable is subject to the payment of the claims of creditors of the donee, his estate and the expenses of administering his estate, only: (1) If the power was […]
10-8.1 – Rule Against Perpetuities; Time at Which Permissible Period Begins
§ 10-8.1 Rule against perpetuities; time at which permissible period begins (a) Where an estate is created by an instrument exercising a power of appointment, the permissible period of the rule against perpetuities begins: (1) In the case of an instrument exercising a general power which is presently exercisable, on the effective date of the […]
10-8.2 – Rule Against Perpetuities; Law Which Determines Permissible Period
§ 10-8.2 Rule against perpetuities; law which determines permissible period In all cases covered by 10-8.1, the permissible period of the rule against perpetuities is determined by the law in effect when the power is exercised or the unqualified power to revoke is terminated, and not by the law in effect when the power was […]
10-8.3 – Rule Against Perpetuities; Facts to Be Considered
§ 10-8.3 Rule against perpetuities; facts to be considered When the permissible period of the rule against perpetuities must be computed from the time of the creation of the power of appointment, facts and circumstances existing on the effective date of the instrument exercising the power shall be taken into account in determining the validity […]
10-8.4 – Rule Against Accumulations; Law Determining Validity in Exercise of a Power of Appointment
§ 10-8.4 Rule against accumulations; law determining validity in exercise of a power of appointment When a direction for the accumulation of income is contained in an instrument exercising a power, heretofore or hereafter created, the validity of such direction is determined by the law in effect when the power is exercised, and not by […]
10-6.8 – Imperative Power of Appointment; Effectuation
§ 10-6.8 Imperative power of appointment; effectuation (a) The exercise of an imperative power of appointment devolves upon the supreme court or, in the case of a will, the surrogate’s court in the following cases: (1) Failure to designate the donee. (2) Death of the designated donee without exercising the power. (3) Incompetence of the […]
10-6.9 – Exercise of a Power of Appointment in Further Trust
§ 10-6.9. Exercise of a power of appointment in further trust If the donee of a power of appointment exercises the power in favor of the trustee of a trust under a will or deed other than that under which the power was created, and if said exercise is otherwise valid, the appointive property shall […]
10-7.1 – Creditors of the Donee; Special Power
§ 10-7.1 Creditors of the donee; special power Property covered by a special power of appointment (or a general power of appointment that is exercisable solely for the support, maintenance, health and education of the donee within the meaning of sections 2041 and 2514 of the Internal Revenue Code) is not subject to the payment […]
10-7.2 – Creditors of the Donee; General Power Presently Exercisable
§ 10-7.2 Creditors of the donee; general power presently exercisable Property covered by a general power of appointment (other than one exercisable solely for the support, maintenance, health and education of the donee within the meaning of sections 2041 and 2514 of the Internal Revenue Code) which is presently exercisable, or of a postponed power […]