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KRS 390.130

Intent to exercise -- After-acquired power

Known as the Uniform Powers of Appointment Act

The act spans §§ 390–390 (37 sections).

Effective: July 15, 2020 History: Created 2020 Ky

Unless the terms of the instrument exercising a power of appointment manifest a contrary intent:

(1) Except as otherwise provided in subsection (2) of this section, a blanket-exercise clause extends to a power acquired by the powerholder after executing the instrument containing the clause; and (2) If the powerholder is also the donor of the power, the clause does not extend to the power unless there is no gift-in-default clause or it is ineffective.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.