Utah Code 75A-4-308. Elective allocation doctrine
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Terms Used In Utah Code 75A-4-308
- Appointive property: means the property or property interest subject to a power of appointment. 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
- Property: means the same as that term is defined in Section
75-1-201 . See Utah Code 75A-4-102
If a powerholder exercises a power of appointment in a disposition that also disposes of property the powerholder owns, the owned property and the appointive property shall be allocated in the permissible manner that best carries out the powerholder’s intent.