Current as of January 01, 2018 | Updated by FindLaw Staff
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To the extent a powerholder releases or fails to exercise a general power of appointment other than a power to withdraw property from, revoke, or amend a trust, and except as provided in subsection 3 of section 456.995:
(1) The gift-in-default clause controls the disposition of the unappointed property;
or
(2) If there is no gift-in-default clause or to the extent the clause is ineffective:
(a) Except as otherwise provided in paragraph (b) of this subdivision, the unappointed property passes to:
a. The powerholder if the powerholder is a permissible appointee and living; or
b. If the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or
(b) To the extent the powerholder released the power, or if there is no taker under paragraph (a) of this subdivision, the unappointed property passes under a reversionary interest to the donor or the donor's transferee or successor in interest.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XXXI. Trusts and Estates of Decedents and Persons Under Disability § 456.1060. Disposition of unappointed property under released or unexercised general power - last updated January 01, 2018 | https://codes.findlaw.com/mo/title-xxxi-trusts-and-estates-of-decedents-and-persons-under-disability/mo-rev-st-456-1060.html
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