§ 1307 — Exception to presumption of unlimited authority

Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if: (1) the power is exercisable only at the powerholder's death; and (2) the permissible appointees of the power are a defined and limited class that does not include the powerholder's estate, the powerholder's creditors, or the creditors of the powerholder's estate.

Legislative History

(Source: P.A. 101-48, eff. 1-1-20 .)