§ 72-7-201 — Creation Of Power Of Appointment

Montana § 72-7-201

• Jurisdiction: Montana
• Title 72: ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS
• Ch. 7: UNIFORM POWERS OF APPOINTMENT ACT
• Part 2: Creation, Revocation, and Amendment of Power of Appointment

Text

72-7-201 . Creation of power of appointment. (1) A power of appointment is created only if:
(a) the instrument creating the power:
(i) is valid under applicable law; and
(ii) except as otherwise provided in subsection (2), transfers the appointive property; and
(b) the terms of the instrument creating the power manifest the donor's intent to create in a powerholder a power of appointment over the appointive property exercisable in favor of a permissible appointee.
(2) Subsection (1)(a)(ii) does not apply to the creation of a power of appointment by the exercise of a power of appointment.
(3) A power of appointment may not be created in a deceased individual.
(4) Subject to an applicable rule against perpetuities, a power of appointment may be created in an unborn or unascertained powerholder.

Legislative History

En. Sec. 5, Ch. 293, L. 2015.