A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder:
(1) Is also the donor of the power; and (2) Has reserved the power in a revocable trust.
KRS 390.300
Power to contract -- Power of appointment not presently exercisable
Known as the Uniform Powers of Appointment Act
The act spans §§ 390–390 (37 sections).
Effective: July 15, 2020 History: Created 2020 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.