(1) As used in this section, “power of appointment created by the powerholder” includes a power of appointment created in a transfer by another person to the extent
the powerholder contributed value to the transfer.
(2) Appointive property subject to a general power of appointment created by the
powerholder is subject to a claim of a creditor of the powerholder or of the powerholder's
estate to the extent provided in KRS Chapter 378A.
(3) Subject to subsection (2) of this section, appointive property subject to a general
power of appointment created by the powerholder is not subject to a claim of a creditor
of the powerholder or the powerholder's estate to the extent the powerholder irrevocably
appointed the property in favor of a person other than the powerholder or the powerholder's
(4) Subject to subsections (2) and (3) of this section, and notwithstanding the presence
of a spendthrift provision or whether the claim arose before or after the creation
of the power of appointment, appointive property subject to a general power of appointment
created by the powerholder is subject to a claim of a creditor of:
(a) The powerholder, to the same extent as if the powerholder owned the appointive
property, if the power is presently exercisable; and
(b) The powerholder's estate, to the extent the estate is insufficient to satisfy
the claim and subject to the right of a decedent to direct the source from which liabilities
are paid, if the power is exercisable at the powerholder's death.
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