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2022 Kentucky Revised Statutes
Chapter 390 - Uniform powers of appointment act
390.120 Intent to exercise -- Determining intent from residuary clause.

Universal Citation: KY Rev Stat § 390.120 (2022)
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390.120 Intent to exercise -- Determining intent from residuary clause. (1) As used in this section: (a) "Residuary clause" does not include a residuary clause containing a blanketexercise clause or a specific-exercise clause; and (b) "Will" includes a codicil and a testamentary instrument that revises another will. (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: (a) The terms of the instrument containing the residuary clause do not manifest a contrary intent; (b) The power is a general power exercisable in favor of the powerholder's estate; (c) There is no gift-in-default clause or it is ineffective; and (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.
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