Ky. Rev. Stat. Ann. § 390.080 – Exception to presumption of unlimited authority. | Midpage
390.080
Ky. Rev. Stat. Ann. § 390.080
Exception to presumption of unlimited authority.
Effective Jul 15, 20202020 Ky. Acts ch. 41, sec. 7Commonwealth of Kentucky
Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if:
(1) The power is exercisable only at the powerholder's death; and
(2) The permissible appointees of the power are a defined and limited class that does not include the powerholder's estate, the powerholder's creditors, or the creditors of the powerholder's estate.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 7, effective July 15, 2020.