1. (1) As used in this section:

   1. (a)
   2. (b) "Residuary clause" does not include a residuary clause containing a blanket- exercise clause or a specific-exercise clause; and "Will" includes a codicil and a testamentary instrument that revises another will.

2. (2) A residuary clause in a powerholder's will, or a comparable clause in the powerholder's revocable trust, manifests the powerholder's intent to exercise a power of appointment only if:

   1. (a) The terms of the instrument containing the residuary clause do not manifest a contrary intent;
   2. (b) The power is a general power exercisable in favor of the powerholder's estate;
   3. (c) There is no gift-in-default clause or it is ineffective; and
   4. (d) The powerholder did not release the power.

Effective: July 15, 2020

History: Created 2020 Ky. Acts ch. 41, sec. 11, effective July 15, 2020.