§ 564-B:10-1016 — Powers of Appointment

New Hampshire § 564-B:10-1016

• Jurisdiction: New Hampshire
• Title LVI: PROBATE COURTS AND DECEDENTS' ESTATES
• Ch. 564-B: NEW HAMPSHIRE TRUST CODE
• Subdivision: ARTICLE 10LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEE

Text

(a) A power of appointment is exercised only:
(1) If the instrument exercising the power is valid under applicable law;
(2) If the terms of the instrument exercising the power:
(A) Manifest the powerholder's intent to exercise the power; and
(B) Subject to subsection (b), satisfy any requirements that the terms of the trust may impose on the exercise of the power; and
(3) To the extent that the appointment is a permissible exercise of the power.
(b) A powerholder's substantial compliance with a formal requirement of appointment imposed by the terms of the trust, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if:
(1) The powerholder knows of and intends to exercise the power;
(2) The terms of the trust do not require strict compliance with the formal requirement of appointment imposed by the settlor; and
(3) The powerholder's manner of attempted exercise of the power does not impair a material purpose of the trust.

Legislative History

2017, 257:28, eff. July 18, 2017.