Montana Statutes
§ 72-7-302 — Intent To Exercise -- Determining Intent From Residuary Clause
Montana·Title 72 ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS·Ch. 7 UNIFORM POWERS OF APPOINTMENT ACT·Part 3 Exercise of Power of Appointment
72-7-302 . Intent to exercise -- determining intent from residuary clause.
(1)In this section:
(a)"Residuary clause" does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause.
(b)"Will" includes a codicil and a testamentary instrument that revises another will.
(2)A residuary clause in a powerholder's will or a comparable clause in the powerholder's revocable trust manifests the powerholder's intent to exercise a power of appointment only if:
(a)the terms of the instrument containing the residuary clause do not manifest a contrary intent;
(b)the power is a general power exercisable in favor of the powerholder's estate;
(c)there is no gift-in-default clause or the clause is ineffective; and
(d)the powerholder did not release the power.
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Montana § 72-7-302 (Intent To Exercise -- Determining Intent From Residuary Clause) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 12, Ch. 293, L. 2015.
Nearby Sections
15
§ 72-7-101
Short Title§ 72-7-102
Definitions§ 72-7-103
Governing Law§ 72-7-104
Common Law And Principles Of Equity§ 72-7-201
Creation Of Power Of Appointment§ 72-7-202
Nontransferability§ 72-7-203
Presumption Of Unlimited Authority§ 72-7-205
Rules Of Classification§ 72-7-206
Power To Revoke Or Amend§ 72-7-305
Permissible Appointment