Montana § 72-7-301 Requisites For Exercise Of Power Of Appointment

Montana Statutes

§ 72-7-301 — Requisites For Exercise Of Power Of Appointment

Montana·Title 72 ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS·Ch. 7 UNIFORM POWERS OF APPOINTMENT ACT·Part 3 Exercise of Power of Appointment

72-7-301 . Requisites for exercise of power of appointment.

(1)A power of appointment is exercised only:

(a)if the instrument exercising the power is valid under applicable law;

(b)if the terms of the instrument exercising the power:

(i)manifest the powerholder's intent to exercise the power; and

(ii)subject to 72-7-304 , satisfy the requirements of exercise, if any, imposed by the donor; and

(c)to the extent the appointment is a permissible exercise of the power.

(2)Notwithstanding any other provision of this act, the property subject to a power of appointment may not pass to and may not be administered as a part of the powerholder's probate estate unless:

(a)the power of appointment is a general one that expressly authorizes the powerholder to appoint the appointive property to h

Free access — add to your briefcase to read the full text and ask questions with AI

72-7-301 . Requisites for exercise of power of appointment. (1) A power of appointment is exercised only:
(a) if the instrument exercising the power is valid under applicable law;
(b) if the terms of the instrument exercising the power:
(i) manifest the powerholder's intent to exercise the power; and
(ii) subject to 72-7-304 , satisfy the requirements of exercise, if any, imposed by the donor; and
(c) to the extent the appointment is a permissible exercise of the power.
(2) Notwithstanding any other provision of this act, the property subject to a power of appointment may not pass to and may not be administered as a part of the powerholder's probate estate unless:
(a) the power of appointment is a general one that expressly authorizes the powerholder to appoint the appointive property to his or her own estate; and
(b) the powerholder utilizes clear and unequivocal language demonstrating a specific intent to exercise the power in favor of his or her own estate.

Montana § 72-7-301 (Requisites For Exercise Of Power Of Appointment) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.