Current as of January 01, 2018 | Updated by FindLaw Staff
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To the extent a powerholder releases, ineffectively exercises, or fails to exercise a nongeneral power of appointment:
(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, the unappointed property:
(a) Passes to the permissible appointees if:
a. The permissible appointees are defined and limited; and
b. The terms of the instrument creating the power do not manifest a contrary intent; or
(b) If there is no taker under paragraph (a) of this subdivision, 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 § 456.1065. Disposition of unappointed property under released or unexercised nongeneral 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-456-1065/
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