Montana § 72-7-503 Power To Withdraw

Montana Statutes

§ 72-7-503 — Power To Withdraw

Montana § 72-7-503

Title 72ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS

Ch. 7UNIFORM POWERS OF APPOINTMENT ACT

Part 5Rights of Powerholder's Creditors in Appointive Property

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Bluebook

Mont. Code Ann. § 72-7-503 (2026).

Text

72-7-503 . Power to withdraw.

(1)For purposes of this section and except as otherwise provided in subsection (2), a power to withdraw property from a trust is treated, during the time the power may be exercised, as a presently exercisable general power of appointment to the extent of the property subject to the power to withdraw.

(2)On the lapse, release, or waiver of a power to withdraw property from a trust, the power is treated as a presently exercisable general power of appointment only to the extent the value of the property affected by the lapse, release, or waiver exceeds the greater of the amount specified in 26 U.S.C. Section 2041(b)(2) and 26 U.S.C. Section 2514(e) or the amount specified in 26 U.S.C. Section 2503(b) on October 1, 2015.

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72-7-503 . Power to withdraw. (1) For purposes of this section and except as otherwise provided in subsection (2), a power to withdraw property from a trust is treated, during the time the power may be exercised, as a presently exercisable general power of appointment to the extent of the property subject to the power to withdraw.
(2) On the lapse, release, or waiver of a power to withdraw property from a trust, the power is treated as a presently exercisable general power of appointment only to the extent the value of the property affected by the lapse, release, or waiver exceeds the greater of the amount specified in 26 U.S.C. Section 2041(b)(2) and 26 U.S.C. Section 2514(e) or the amount specified in 26 U.S.C. Section 2503(b) on October 1, 2015.