Section 501 – Creditor claim — General power created by powerholder.
Effective 5/9/2017 75-10-501. Creditor claim — General power created by powerholder. (1) In this section, “power of appointment created by the powerholder” includes a power of appointment created in a transfer by another person to the extent the powerholder contributed value to the transfer. (2) Appointive property subject to a general power of appointment created […]
Section 502 – Creditor claim — Power not created by powerholder.
Effective 5/9/2017 75-10-502. Creditor claim — Power not created by powerholder. (1) The property subject to a general or a nongeneral power of appointment not created by the powerholder, including a presently exercisable general or nongeneral power of appointment, is exempt from a claim of a creditor of the powerholder or the powerholder’s estate. The […]
Section 503 – Power to withdraw.
Effective 5/9/2017 75-10-503. Power to withdraw. (1) For purposes of this part, and except as otherwise provided in Subsection (2), a power to withdraw property from a trust is treated, during the time the power may be exercised, as a presently exercisable general power of appointment to the extent of the property subject to the […]