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Current as of January 01, 2023 | Updated by FindLaw Staff
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, 2023 | https://codes.findlaw.com/mo/title-xxxi-trusts-and-estates-of-decedents-and-persons-under-disability/mo-rev-st-456-1065/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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