Utah Code 75A-4-304. Compliance with donor-imposed formal requirements
Current as of: 2024 | Check for updates
|
Other versions
(1)
Terms Used In Utah Code 75A-4-304
- Donor: The person who makes a gift.
- Donor: means a person that creates a power of appointment. See Utah Code 75A-4-102
- Instrument: means a record. See Utah Code 75A-4-102
- Power of appointment: means a power that enables a powerholder acting in a nonfiduciary capacity to designate a recipient of an interest in, or another power of appointment over, the appointive property. See Utah Code 75A-4-102
- Powerholder: means a person in whom a donor creates a power of appointment. See Utah Code 75A-4-102
- Probate: Proving a will
- Trust: means the same as that term is defined in Section
75-1-201 . See Utah Code 75A-4-102
(1)(a) A powerholder‘s compliance with formal requirements of appointment imposed by the donor is sufficient only if the powerholder substantially complies with the conditions, requirements, and formalities set forth in the power of appointment, including complying with all the requirements for making specific reference to the power, that the power shall be exercised in a specific document such as a will, or that the document exercising the power shall be witnessed or notarized.
(1)(b) If the donor limited the powerholder’s exercise to a validly executed will, substantial compliance may not include the exercise of the power by a trust or another document not meeting the requirements of a properly executed will.
(2) Unless required by the instrument creating the power, the probate of a properly executed will is not required for the exercise of a power to be valid and complete.