Sec. 22. (a) As used in this chapter, “presently exercisable power of appointment” means a
power of appointment exercisable by the
powerholder at the relevant time.
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Terms Used In Indiana Code 30-4-10-22
- ascertainable standard: means a standard relating to an individual's health, education, support, or maintenance as defined by Indiana Code 30-4-10-3
- 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 Indiana Code 30-4-10-20
- powerholder: means a person in which a donor creates a power of appointment. See Indiana Code 30-4-10-21
(c) The term does not include a power exercisable only at the powerholder’s death.
As added by P.L.161-2022, SEC.3.
