Utah Code 75A-4-502. Creditor claim — Power not created by powerholder
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(1)
Terms Used In Utah Code 75A-4-502
- Estate: means the same as that term is defined in Section
75-1-201 . See Utah Code 75A-4-102 - Nongeneral power of appointment: includes a special power of appointment, a limited power of appointment, or similar terminology that is used in an instrument creating a power that does not grant powers making it a general 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 - Trust: means the same as that term is defined in Section
75-1-201 . See Utah Code 75A-4-102
(1)(a) The property subject to a general or a nongeneral power of appointment not created by the powerholder, including a presently exercisable general or nongeneral power of appointment, is exempt from a claim of a creditor of the powerholder or the powerholder’s estate.
(1)(b) The powerholder of such a power may not be compelled to exercise the power and the powerholder’s creditors may not acquire the power, any rights thereto, or reach the trust property or beneficial interests by any other means.
(1)(c) A court may not exercise or require the powerholder to exercise the power of appointment.
(2) As set forth in Section 75A-4-103 , the law of the donor‘s domicile at the time of creation shall govern claims of creditors and other parties claiming an interest in property or rights subject to a power of appointment.