10-3.3 – Classification of Powers of Appointment as to Time of Exercise; Presently Exercisable, Testamentary and Postponed

§ 10-3.3 Classification of powers of appointment as to time of exercise; presently exercisable, testamentary and postponed (a) A power of appointment, as to the time of its exercise, is either presently exercisable, testamentary or postponed. (b) A power of appointment is presently exercisable if it may be exercised by the donee, during his lifetime […]