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2022 Kentucky Revised Statutes
Chapter 390 - Uniform powers of appointment act
390.200 Disposition of unappointed property under released or unexercised general power.

Universal Citation: KY Rev Stat § 390.200 (2022)
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390.200 Disposition of unappointed property under released or unexercised general power. To the extent a powerholder releases or fails to exercise a general power of appointment other than a power to revoke, amend, or withdraw property from a trust: (1) The gift-in-default clause controls the disposition of the unappointed property; or (2) If there is no gift-in-default clause or to the extent the clause is ineffective: (a) Except as otherwise provided in paragraph (b) of this subsection, the unappointed property passes to: 1. The powerholder if the powerholder is a permissible appointee and living; or 2. If the powerholder is an impermissible appointee or not living, the powerholder's estate if the estate is a permissible appointee; or (b) To the extent the powerholder released the power, or if there is no taker under paragraph (a) of this subsection, the unappointed property passes under a reversionary interest to the donor or the donor's transferee or successor in interest. Effective: July 15, 2020 History: Created 2020 Ky. Acts ch. 41, sec. 19, effective July 15, 2020.
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