Michigan Laws 556.130 – Death of appointee prior to exercise of power
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Terms Used In Michigan Laws 556.130
- Appointee: means a person to whom a beneficial interest in property is designated or transferred by exercise of a power or, if a power is exercised in favor of a trustee, a person for whose benefit property has been designated or transferred in trust. See Michigan Laws 556.112
- EPIC: means the estates and protected individuals code, 1998 PA 386, MCL 700. See Michigan Laws 556.112
- Power: means a power of appointment over property. See Michigan Laws 556.112
If an attempted testamentary exercise of a power is ineffective because of an appointee‘s death before the effective date of the exercise, section 2603 of EPIC, MCL 700.2603, applies.