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KRS 390.330

Creditor claim -- General power not created by powerholder

Known as the Uniform Powers of Appointment Act

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

Effective: July 15, 2020 History: Created 2020 Ky

(1) Appointive property subject to a general power of appointment created by a person other than the powerholder is not subject to a claim of a creditor of the powerholder or the powerholder's estate.

(2) A power of appointment created by a person other than the powerholder which is subject to an ascertainable standard relating to an individual's health, education, support, or maintenance within the meaning of 26 U.S.C. sec. 2041(b)(1)(A) or 2514(c)(1), as amended, is treated for purposes of this chapter as a nongeneral power.

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