South Dakota Codified Laws 29A-2-608. Exercise of power of appointment
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In the absence of a requirement that a power of appointment be exercised by a reference, or by an express or specific reference, to the power, a general residuary clause in a will, or a will making general disposition of all of the testator‘s property, expresses an intention to exercise a power of appointment held by the testator only if (i) the power is a general power and the creating instrument does not contain a gift if the power is not exercised or (ii) the testator’s will manifests an intention to include the property subject to the power.
Terms Used In South Dakota Codified Laws 29A-2-608
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Testator: A male person who leaves a will at death.
Source: SL 1995, ch 167, § 2-608.