§ 31D-3-311 – Disposition of unappointed property under released or unexercised nongeneral power.
31D-3-311. Disposition of unappointed property under released or unexercised nongeneral power. To the extent that a power holder releases, ineffectively exercises, or fails to exercise a nongeneral power of appointment: (1) The gift-in-default clause controls the disposition of the unappointed property. (2) If there is no gift-in-default clause, or to the extent that the clause […]
§ 31D-3-312 – Disposition of unappointed property if partial appointment to taker in default.
31D-3-312. Disposition of unappointed property if partial appointment to taker in default. Unless the terms of the instrument creating or exercising a power of appointment manifest a contrary intent, if the power holder makes a valid partial appointment to a taker in default of appointment, then the taker in default of appointment may share fully […]
§ 31D-3-313 – Appointment to taker in default.
31D-3-313. Appointment to taker in default. If a power holder makes an appointment to a taker in default of appointment and the appointee would have taken the property under a gift-in-default clause had the property not been appointed, then the power of appointment is deemed not to have been exercised and the appointee takes under […]
§ 31D-3-314 – Power holder's authority to revoke or amend exercise.
31D-3-314. Power holder’s authority to revoke or amend exercise. If the terms of an instrument creating a power of appointment do not prohibit the power holder from revoking or amending an exercise of the power, a power holder may revoke or amend the exercise of a power only if one of the following apply: (1) […]
§ 31D-3-301 – Requisites for exercise of power of appointment.
31D-3-301. Requisites for exercise of power of appointment. A power of appointment is exercised only to the extent that the appointment is a permissible exercise of the power, and only if all of the following apply: (1) The instrument exercising the power is valid under applicable law. (2) The terms of the instrument exercising the […]
§ 31D-3-302 – Intent to exercise; determining intent from residuary clause.
31D-3-302. Intent to exercise; determining intent from residuary clause. A residuary clause that does not contain a blanket-exercisable clause or specific-exercise clause manifests the power holder’s intent to exercise a power of appointment only if all of the following apply: (1) The terms of the instrument containing the residuary clause (including any valid codicil or […]
§ 31D-3-303 – Intent to exercise after-acquired power.
31D-3-303. Intent to exercise after-acquired power. Unless the terms of an instrument exercising a power of appointment manifest a contrary intent: (1) If the power holder is not also the donor of the power, a blanket-exercise clause in the instrument extends to a power acquired by the power holder after executing the instrument containing the […]
§ 31D-3-304 – Substantial compliance with donor-imposed formal requirement.
31D-3-304. Substantial compliance with donor-imposed formal requirement. A power holder’s substantial compliance with a formal requirement of appointment imposed by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if both of the following apply: (1) The power holder knows of […]
§ 31D-3-305 – Permissible appointment.
31D-3-305. Permissible appointment. (a) If a power holder of a general power of appointment permits appointment to the power holder or the power holder’s estate, the power holder may make any appointment, including an appointment in trust or an appointment that creates a new power of appointment that the power holder could make in disposing […]
§ 31D-3-306 – Appointment to deceased appointee.
31D-3-306. Appointment to deceased appointee. An appointment to a deceased appointee is ineffective. (2015-205, s. 3(a).)