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Current as of January 01, 2023 | Updated by FindLaw Staff
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 chapter 428.
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:
(1) To the extent the powerholder irrevocably appointed the property in favor of a person other than the powerholder or the powerholder's estate; and
(2) If the power is not presently exercisable.
4. Subject to subdivision (1) of subsection 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 the powerholder to the same extent as if the powerholder owned the appointive property, if the power is presently exercisable.
Cite this article: FindLaw.com - Missouri Revised Statutes Title XXXI. Trusts and Estates of Decedents and Persons Under Disability § 456.1100. Creditor claim--general power created by powerholder - last updated January 01, 2023 | https://codes.findlaw.com/mo/title-xxxi-trusts-and-estates-of-decedents-and-persons-under-disability/mo-rev-st-456-1100/
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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