California Probate Code 650 – (a) The powerholder of a general power of appointment may make …
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(a) The powerholder of a general power of appointment may make an appointment:
(1) Of all of the appointive property at one time, or several partial appointments at different times, where the power is exercisable inter vivos.
Terms Used In California Probate Code 650
- Appointive property: means the property or interest in property that is the subject of the power of appointment. See California Probate Code 610
- Inter vivos: Transfer of property from one living person to another living person.
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. See California Probate Code 610
- Powerholder: means the person to whom a power of appointment is given or in whose favor a power of appointment is reserved. See California Probate Code 610
- Trust: includes the following:
California Probate Code 82
(2) Of present or future interests or both.
(3) Subject to conditions or charges.
(4) Subject to otherwise lawful restraints on the alienation of the appointed interest.
(5) In trust.
(6) Creating a new power of appointment.
(b) The listing in subdivision (a) is illustrative, not exclusive.
(Amended by Stats. 2016, Ch. 81, Sec. 11. (AB 2846) Effective January 1, 2017.)