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Wisconsin Statutes Property (Ch. 700 to 710) § 702.310. Disposition of unappointed property under released or unexercised general power

Current as of January 01, 2025 | Updated by Findlaw Staff

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, all of the following apply:

(1) The gift-in-default clause controls the disposition of the unappointed property.

(2)(a) If there is no gift-in-default clause or to the extent the gift-in-default clause is ineffective, except as otherwise provided in par. (b), the unappointed property passes to any of the following:

1. If the powerholder is a permissible appointee and living, the powerholder.

2. If the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee.

(b) To the extent the powerholder released the power, or if there is no taker under par. (a), the unappointed property passes under a reversionary interest to the donor or the donor's transferee or successor in interest.

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Cite this article: FindLaw.com - Wisconsin Statutes Property (Ch. 700 to 710) § 702.310. Disposition of unappointed property under released or unexercised general power - last updated January 01, 2025 | https://codes.findlaw.com/wi/property-ch-700-to-710/wi-st-702-310/

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