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Current as of January 01, 2024 | Updated by Findlaw Staff
(1) A power of appointment is exercised only:
(a) if the instrument exercising the power is valid under applicable law;
(b) if the terms of the instrument exercising the power:
(i) manifest the powerholder's intent to exercise the power; and
(ii) subject to 72-7-304, satisfy the requirements of exercise, if any, imposed by the donor; and
(c) to the extent the appointment is a permissible exercise of the power.
(2) Notwithstanding any other provision of this act, the property subject to a power of appointment may not pass to and may not be administered as a part of the powerholder's probate estate unless:
(a) the power of appointment is a general one that expressly authorizes the powerholder to appoint the appointive property to his or her own estate; and
(b) the powerholder utilizes clear and unequivocal language demonstrating a specific intent to exercise the power in favor of his or her own estate.
Cite this article: FindLaw.com - Montana Title 72. Estates, Trusts, and Fiduciary Relationships § 72-7-301. Requisites for exercise of power of appointment - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-72-estates-trusts-and-fiduciary-relationships/mt-st-72-7-301/
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 before relying on it for your legal needs.
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