Lapse of a power—Intent not to exercise a power—Treatment.

  1. Law
  2. Revised Code of Washington
  3. Probate and Trust Law
  4. Powers of Appointment.
  5. Lapse of a power—Intent not to exercise a power—Treatment.

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A person shall not be treated as having made a disposition in trust for the use of that individual by reason of a lapse of a power of withdrawal over the income or corpus of a trust created by another person. For this purpose, notification to the trustee of the trust of an intent not to exercise the power of withdrawal shall not be treated as a release of the power of withdrawal, but shall be treated as a lapse of the power.

[ 2006 c 360 § 12.]

NOTES:

Clarification of laws—Enforceability of act—Severability—2006 c 360: See notes following RCW 11.108.070.


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