72-7-302. Intent to exercise -- determining intent from residuary clause, MCA
  1. MCA Contents
  2. TITLE 72
  3. CHAPTER 7
  4. Part 3
  5. 72-7-302 Intent to exercise -- determining intent from residuary clause

Montana Code Annotated 2017

TITLE 72. ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS

CHAPTER 7. UNIFORM POWERS OF APPOINTMENT ACT

Part 3. Exercise of Power of Appointment

Intent To Exercise -- Determining Intent From Residuary Clause

72-7-302. Intent to exercise -- determining intent from residuary clause. (1) In this section:

(a) "Residuary clause" does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause.

(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 the clause is ineffective; and

(d) the powerholder did not release the power.

History: En. Sec. 12, Ch. 293, L. 2015.