§ 682. — 682. (Amended by Stats. 2016, Ch. 81, Sec. 25.)

California § 682.

• Jurisdiction: California
• Code PROB: Probate Code - PROB
• Div. 2.: DIVISION 2. GENERAL PROVISIONS
• Part 14.: PART 14. POWERS OF APPOINTMENT
• Ch. 6.: CHAPTER 6. Rights of Creditors

Text

(a)
To the extent that the property owned by the powerholder is inadequate to satisfy the claims of the powerholder’s creditors, property subject to a general power of appointment that is presently exercisable is subject to the claims to the same extent that it would be subject to the claims if the property were owned by the
powerholder.
(b)
Upon the death of the powerholder, to the extent that the powerholder’s estate is inadequate to satisfy the claims of creditors of the estate and the expenses of administration of the estate, property subject to a general testamentary power of appointment or to a general power of appointment that was presently exercisable at the time of the
powerholder’s
death is subject to the claims and expenses to the same extent that it would be subject to the claims and expenses if the property had been owned by the powerholder.
(c)
This section applies whether or not the power of appointment has been exercised.

Legislative History

Amended by Stats. 2016, Ch. 81, Sec. 25. (AB 2846) Effective January 1, 2017.