2020 Colorado Revised Statutes
Title 15 - Probate, Trusts, And Fiduciaries
Article 2.5. Uniform Powers of Appointment Act
Section 15-2.5-309. Capture doctrine - disposition of ineffectively appointed property under general power.
(1) To the extent a powerholder of a general power of appointment, other than a power to withdraw property from, revoke, or amend a trust, makes an ineffective appointment:
The gift-in-default clause controls the disposition of the ineffectively appointed property; or
If there is no gift-in-default clause, or to the extent the clause is ineffective, theineffectively appointed property:
(I) Passes to:
The powerholder if the powerholder is a permissible appointee and living; or
If the powerholder is an impermissible appointee or deceased, the powerholder'sestate if the estate is a permissible appointee; or
(II) If there is no taker under subparagraph (I) of this paragraph (b), passes under a reversionary interest to the donor or to the donor's transferee or successor in interest.
Source: L. 2014: Entire article added, (HB 14-1353), ch. 209, p. 778, § 1, effective July 1, 2015.
