Montana Code Annotated 2019

TITLE 72. ESTATES, TRUSTS, AND FIDUCIARY RELATIONSHIPS

CHAPTER 7. UNIFORM POWERS OF APPOINTMENT ACT

Part 3. Exercise of Power of Appointment

Requisites For Exercise Of Power Of Appointment

72-7-301. Requisites for exercise of power of appointment. (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.

History: En. Sec. 11, Ch. 293, L. 2015.