Missouri Laws 456.1035 – Permissible appointment
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.
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.
Terms Used In Missouri Laws 456.1035
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- Property: includes real and personal property. See Missouri Laws 1.020
3. The powerholder of a nongeneral power may:
(1) Make an appointment in any form, including an appointment in trust, in favor of a permissible appointee;
(2) Create a general power or nongeneral power in a permissible appointee; or
(3) Create a nongeneral power in any person to appoint to one or more of the permissible appointees of the original nongeneral power.