Kentucky Statutes 390.250 – Disclaimer
Current as of: 2024 | Check for updates
|
Other versions
As provided in KRS § 394.035 and KRS § 394.610 to 394.670:
(1) A powerholder may disclaim all or part of a power of appointment; and
(2) A permissible appointee, appointee, or taker in default of appointment may disclaim all or part of an interest in appointive property.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 24, effective July 15, 2020.
(1) A powerholder may disclaim all or part of a power of appointment; and
Terms Used In Kentucky Statutes 390.250
- Appointee: means a person to whom a powerholder makes an appointment of appointive property. See Kentucky Statutes 390.020
- Appointive property: means the property or property interest subject to a power of appointment. 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
- Taker in default of appointment: means a person who takes part or all of the appointive property to the extent the powerholder does not effectively exercise the power of appointment. See Kentucky Statutes 390.020
(2) A permissible appointee, appointee, or taker in default of appointment may disclaim all or part of an interest in appointive property.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 24, effective July 15, 2020.