Effective - 28 Aug 2016
456.1055. Capture doctrine — disposition of ineffectively appointed property under general power. — 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:
(1) The gift-in-default clause controls the disposition of the ineffectively appointed property; or
(2) If there is no gift-in-default clause or to the extent the clause is ineffective, the ineffectively appointed property:
(a) Passes to the powerholder if the powerholder is a permissible appointee and living; or
(b) If the powerholder is an impermissible appointee or deceased, passes to the powerholder's estate if the estate is a permissible appointee; or
(c) If there is no taker under paragraph (a) or (b) of this subdivision, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.
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(L. 2016 H.B. 1765)