72-7-302. Intent to exercise -- determining intent from residuary clause. (1) In this section:
     (a) "Residuary clause" does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause.
     (b) "Will" includes a codicil and a testamentary instrument that revises another will.
     (2) A residuary clause in a powerholder's will or a comparable clause in the powerholder's revocable trust manifests the powerholder's intent to exercise a power of appointment only if:
     (a) the terms of the instrument containing the residuary clause do not manifest a contrary intent;
     (b) the power is a general power exercisable in favor of the powerholder's estate;
     (c) there is no gift-in-default clause or the clause is ineffective; and
     (d) the powerholder did not release the power.

     History: En. Sec. 12, Ch. 293, L. 2015.