California Probate Code 613 – A power of appointment is “imperative” where the creating instrument …
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A power of appointment is “imperative” where the creating instrument manifests an intent that the permissible appointees be benefited even if the powerholder fails to exercise the power. An imperative power can exist even though the powerholder has the privilege of selecting some and excluding others of the designated permissible appointees. All other powers of appointment are “discretionary.” The powerholder of a discretionary power is privileged to exercise, or not to exercise, the power as the powerholder chooses.
(Amended by Stats. 2016, Ch. 81, Sec. 3. (AB 2846) Effective January 1, 2017.)
Terms Used In California Probate Code 613
- Creating instrument: means the deed, will, trust, or other writing or document that creates or reserves the power of appointment. See California Probate Code 610
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over the appointive property. See California Probate Code 610
- Powerholder: means the person to whom a power of appointment is given or in whose favor a power of appointment is reserved. See California Probate Code 610