Truly Agreed, 2016


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SS HCS HB 1765, 2016    (New Section - Proposed Language)

456.1020. 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
     (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.


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