Missouri Laws 456.1020 – Intent to exercise — determining intent from residuary clause
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1. As used in this section:
(1) “Residuary clause” does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause; and
Terms Used In Missouri Laws 456.1020
- Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
(2) “Will” includes a codicil and a testamentary instrument that revises another will.
2. A residuary clause in a powerholder’s will or a comparable clause in the powerholder’s revocable trust manifests the powerholder’s intent to exercise a power of appointment only if:
(1) The power is a general power exercisable in favor of the powerholder’s estate;
(2) There is no gift-in-default clause or the clause is ineffective; and
(3) The powerholder did not release the power.