Utah Code 75-10-204. Exception to presumption of unlimited authority
Current as of: 2024 | Check for updates
|
Other versions
Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if:
(1) the power is exercisable only at the powerholder‘s death; and
Terms Used In Utah Code 75-10-204
- Estate: includes the property of the decedent, trust, or other person whose affairs are subject to this title as originally constituted and as it exists from time to time during administration. See Utah Code 75-1-201 v2
- Instrument: means a record. See Utah Code 75-10-102
- 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 75-10-102
- Powerholder: means a person in whom a donor creates a power of appointment. See Utah Code 75-10-102
(2) the permissible appointees of the power are a defined and limited class that does not include the powerholder’s estate, the powerholder’s creditors, or the creditors of the powerholder’s estate.