Utah § 75A-4-310 Disposition of unappointed property under released or unexercised general power.

Utah Statutes

§ 75A-4-310 — Disposition of unappointed property under released or unexercised general power.

Utah·Title 75A Fiduciaries·Ch. 75A-4 Uniform Powers of Appointment Act·Part 75A-4-3 Exercise of Power of Appointment

To the extent a powerholder releases or fails to exercise a general power of appointment other than a power to withdraw property from, revoke, or amend a trust:

(1)the gift-in-default clause controls the disposition of the unappointed property; or

(2)if there is no gift-in-default clause or to the extent the clause is ineffective:

(2)(a) except as otherwise provided in Subsection (2)(b), the unappointed property passes to:

(2)(a)(i) the powerholder if the powerholder is a permissible appointee and is living; or

(2)(a)(ii) if the powerholder is an impermissible appointee or is deceased, the powerholder's estate if the estate is a permissible appointee; or

(2)(b) to the extent the powerholder released the power, or if there is no taker under Subsection (2)(a), the unappointed property pass

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To the extent a powerholder releases or fails to exercise a general power of appointment other than a power to withdraw property from, revoke, or amend a trust:
(1) the gift-in-default clause controls the disposition of the unappointed property; or
(2) if there is no gift-in-default clause or to the extent the clause is ineffective:
(2)(a) except as otherwise provided in Subsection (2)(b), the unappointed property passes to:
(2)(a)(i) the powerholder if the powerholder is a permissible appointee and is living; or
(2)(a)(ii) if the powerholder is an impermissible appointee or is deceased, the powerholder's estate if the estate is a permissible appointee; or
(2)(b) to the extent the powerholder released the power, or if there is no taker under Subsection (2)(a), the unappointed property passes under a reversionary interest to the donor or the donor's transferee or successor in interest.

Utah § 75A-4-310 (Disposition of unappointed property under released or unexercised general power.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.