Unless the terms of the instrument exercising a power of appointment manifest a contrary intent:
- (1) Except as otherwise provided in subsection (2) of this section, a blanket-exercise clause extends to a power acquired by the powerholder after executing the instrument containing the clause; and If the powerholder is also the donor of the power, the clause does not extend to the power unless there is no gift-in-default clause or it is ineffective.
- (2)
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 12, effective July 15, 2020.