Kentucky Statutes 390.160 – Appointment to deceased appointee or permissible appointee’s descendant
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(1) An appointment to a deceased appointee is ineffective.
(2) Unless the terms of the instrument creating a power of appointment manifest a contrary intent, a powerholder of a nongeneral power may exercise the power in favor of, or create a new power of appointment in, a descendant of a deceased permissible appointee whether or not the descendant is described by the donor as a permissible appointee.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 15, effective July 15, 2020.
(2) Unless the terms of the instrument creating a power of appointment manifest a contrary intent, a powerholder of a nongeneral power may exercise the power in favor of, or create a new power of appointment in, a descendant of a deceased permissible appointee whether or not the descendant is described by the donor as a permissible appointee.
Terms Used In Kentucky Statutes 390.160
- Appointee: means a person to whom a powerholder makes an appointment of appointive property. See Kentucky Statutes 390.020
- Instrument: means a writing. See Kentucky Statutes 390.020
- Permissible appointee: means a person in whose favor a powerholder may exercise a power of appointment. See Kentucky Statutes 390.020
- 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 Kentucky Statutes 390.020
- Powerholder: means a person in whom a donor creates a power of appointment. See Kentucky Statutes 390.020
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 15, effective July 15, 2020.