§ 15-2.5-305 — Permissible appointment

Colorado § 15-2.5-305

• Jurisdiction: Colorado
• Title 15: Probate,
• Art.: Uniform Powers of Appointment Act

Text

(1) A powerholder of a general power
of appointment that permits appointment to the powerholder or the powerholder's
estate may make any appointment, including an appointment in trust or creating a
new power of appointment, that the powerholder could make in disposing of the
powerholder's own property.

(2) A powerholder of a general power of appointment that permits
appointment only to the creditors of the powerholder or of the powerholder's estate
may appoint only to those creditors.

(3) Unless the terms of the instrument creating a power of appointment
manifest a contrary intent, the powerholder of a nongeneral power may:

(a) Make an appointment in any form, including an appointment in trust, in
favor of a permissible appointee;

(b) Create a general or nongeneral power in a permissible appointee; or

(c) Create a nongeneral power in an impermissible appointee to appoint to
one or more of the permissible appointees of the original nongeneral power.

Legislative History

Source: L. 2014: Entire article added, (HB 14-1353), ch. 209, p. 777, � 1, effective July 1, 2015.