(1) Appointive property subject to a general power of appointment created by a person other than the powerholder is not subject to a claim of a creditor of the powerholder or the powerholder’s estate.
(2) A power of appointment created by a person other than the powerholder which is subject to an ascertainable standard relating to an individual’s health, education, support, or maintenance within the meaning of 26 U.S.C. § 2041(b)(1)(A) or

Terms Used In Kentucky Statutes 390.330

  • Appointive property: means the property or property interest subject to a power of appointment. See Kentucky Statutes 390.020
  • General power of appointment: means a power of appointment exercisable in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate. See Kentucky Statutes 390.020
  • Person: means an individual, estate, trust, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity. 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

2514(c)(1), as amended, is treated for purposes of this chapter as a nongeneral power.
Effective: July 15, 2020
History: Created 2020 Ky. Acts ch. 41, sec. 32, effective July 15, 2020.

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