1. (a) If the trustee has the full, unrestricted power to alienate trust property and the trust expressly states that this exception applies to the trust, IC 32-17-8-3 shall apply to a nonvested property interest or power of appointment contained in the trust by substituting three hundred sixty (360) years instead of ninety (90) years in each place where the term appears in IC 32-17-8-3 , unless the terms of the trust require that all beneficial interests in the trust vest or terminate within a lesser period.

2. (b) When a power of appointment in a trust ("earlier power") is exercised to create another power of appointment ("subsequent power") or another nonvested property interest, then the subsequent power or nonvested property interest created through the exercise of the earlier power is considered to have been created at the time of the creation of the earlier power, unless:

   1. (1) the instrument creating the earlier power; or

   2. (2) the instrument exercising the earlier power;

      explicitly provides that the subsequent power or nonvested property interest is considered to have been created at the time of the irrevocable exercise of the earlier power.

As added by P.L.61-2024, SEC.1. Amended by P.L.105-2026, SEC.7.