2016 Wisconsin Statutes & Annotations
702. Powers of appointment.
702.09 Release of a power of appointment.

702.09  Release of a power of appointment.

702.09(1) (1) Unless the creating instrument expressly provides that the power of appointment cannot be released or expressly restricts the time, manner, or scope of release, the donee of any power of appointment may do any of the following:

702.09(1)(a) (a) At any time completely release the donee's power of appointment.

702.09(1)(b) (b) At any time or times release the donee's power of appointment in any one or more of the following respects:

702.09(1)(b)1. 1. As to the whole or any part of the property which is subject thereto.

702.09(1)(b)2. 2. As to any one or more persons or objects, or classes of persons or objects, in whose favor such power of appointment is exercisable.

702.09(1)(b)3. 3. So as to limit in any other respect the extent to or manner in which the power of appointment may be exercised.

702.09(2) (2) A release may be effected, either with or without consideration, by written instrument signed by the donee and delivered.

702.09(3) (3) Delivery of a release may be accomplished in any of the following manners, but this subsection is permissive and does not preclude a determination that a release has been delivered in some other manner:

702.09(3)(a) (a) Delivery to any person specified in the creating instrument.

702.09(3)(b) (b) Delivery to a trustee or to one of several trustees of the property to which the power of appointment relates, or filing with the court having jurisdiction over the trust.

702.09(3)(c) (c) Delivery to any person, other than the donee, who could be adversely affected by an exercise of the power of appointment.

702.09(3)(d) (d) Recording in the office of register of deeds in the county where the property is located.

702.09 History