Truly Agreed, 2016

redbar

View proposed language

SS HCS HB 1765, 2016    (New Section - as Truly Agreed)    

456.1085. 1. A powerholder may release a power of appointment, in whole or in part, except to the extent the terms of the instrument creating the power prevent the release.
     2. A powerholder of a releasable power of appointment may release the power in whole or in part:
     (1) By substantial compliance with a method provided in the terms of the instrument creating the power; or
     (2) If the terms of the instrument creating the power do not provide a method or the method provided in the terms of the instrument is not expressly made exclusive, by an instrument manifesting the powerholder's intent by clear and convincing evidence and delivered to the donor, the donor's personal representative, a guardian of the donor or the conservator of the estate of the donor, or the holder of the legal title to the property to which the interest related. A release involving an estate or property within the jurisdiction of the probate division of a circuit court may be filed in that division.
     3. A powerholder may revoke or amend a release of a power of appointment only to the extent that:
     (1) The instrument of release is revocable by the powerholder; or
     (2) The powerholder reserves a power of revocation or amendment in the instrument of release.


Top

bottom Missouri General Assembly

Copyright © Missouri Legislature, all rights reserved.