A powerholder‘s substantial compliance with a formal requirement of an appointment imposed by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if:
(1) The powerholder knows of and intends to exercise the power; and

Terms Used In Kentucky Statutes 390.140

  • Donor: The person who makes a gift.
  • Donor: means a person who creates a power of appointment. See Kentucky Statutes 390.020
  • Instrument: means a writing. See Kentucky Statutes 390.020
  • 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 Kentucky Statutes 390.020
  • Powerholder: means a person in whom a donor creates a power of appointment. See Kentucky Statutes 390.020

(2) The powerholder’s manner of attempted exercise of the power does not impair a material purpose of the donor in imposing the requirement.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 13, effective July 15, 2020.

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