Wisconsin Statutes 702.303 – Intent to exercise: after-acquired power
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Unless the terms of the instrument exercising a power of appointment manifest a contrary intent, all of the following apply:
Terms Used In Wisconsin Statutes 702.303
- Donor: The person who makes a gift.
- Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
(1) Except as otherwise provided in sub. (2), a blanket-exercise clause extends to a power of appointment acquired by the powerholder after executing the instrument containing the clause.
(2) If the powerholder is also the donor of the power of appointment, a blanket-exercise clause does not extend to the power of appointment unless there is not a gift-in-default clause or the gift-in-default clause is ineffective.