Truly Agreed, 2016

redbar

View Truly Agreed

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

456.1105. 1. Except as otherwise provided in subsection 3 of this section, appointive property subject to a exercisable general power of appointment created by a person other than the powerholder is subject to a claim of a creditor of the powerholder to the extent the powerholder's property is insufficient.
     2. Appointive property subject to testamentary or not presently exercisable general power of appointment created by a person other than the powerholder is not subject to a claim of a creditor of the powerholder or the powerholder's estate.
     3. Subject to subsection 3 of section 456.1115, a power of appointment created by a person other than the powerholder which is subject to an ascertainable standard relating to an individual's health, education, support, or maintenance within the meaning of Section 2041(b)(1)(A) or Section 2514(c)(1) of the Internal Revenue Code, is treated for purposes of sections 456.1100 to 456.1115 as a nongeneral power.


Top

bottom Missouri General Assembly

Copyright © Missouri Legislature, all rights reserved.