Utah Code 75A-4-305. Permissible appointment
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(1) A powerholder of a general power of appointment that permits appointment to the powerholder or the powerholder’s estate may make any appointment, including an appointment in trust or creating a new power of appointment, that the powerholder could make in disposing of the powerholder’s own property.
Terms Used In Utah Code 75A-4-305
- Appointee: means a person to which a powerholder makes an appointment of appointive property. See Utah Code 75A-4-102
- Estate: means the same as that term is defined in Section
75-1-201 . See Utah Code 75A-4-102 - General power of appointment: means a power of appointment exercisable in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate. See Utah Code 75A-4-102
- Instrument: means a record. See Utah Code 75A-4-102
- Permissible appointee: means a person in whose favor a powerholder may exercise a power of appointment. See Utah Code 75A-4-102
- Person: means an individual, estate, trust, business or nonprofit entity, public corporation, government or governmental subdivision, agency, instrumentality, or other legal entity. See Utah Code 75A-4-102
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an interest in, or another power of appointment over, the appointive property. See Utah Code 75A-4-102
- Powerholder: means a person in whom a donor creates a power of appointment. See Utah Code 75A-4-102
- Property: means the same as that term is defined in Section
75-1-201 . See Utah Code 75A-4-102 - Trust: means the same as that term is defined in Section
75-1-201 . See Utah Code 75A-4-102
(2) A powerholder of a general power of appointment that permits appointment only to the creditors of the powerholder or of the powerholder’s estate may appoint only to those creditors.
(3) Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the powerholder of a nongeneral power may:
(3)(a) make an appointment in any form, including an appointment in trust, in favor of a permissible appointee;
(3)(b) create a general power in a permissible appointee;
(3)(c) create a nongeneral power in any person to appoint one or more of the permissible appointees of the original nongeneral power; or
(3)(d) create a nongeneral power in a permissible appointee to appoint one or more persons if the permissible appointees of the new nongeneral power include the permissible appointees of the original nongeneral power.