RSA 563-B:8 · Disclaimer of Power of Appointment or Other Power Not Held in a Fiduciary Capacity

563-B:8 Disclaimer of Power of Appointment or Other Power Not Held in a Fiduciary Capacity. – If a holder disclaims a power of appointment or other power not held in a fiduciary capacity, the following rules apply:

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(a)

If the holder has not exercised the power, the disclaimer takes effect as of the time the instrument creating the power becomes irrevocable.

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(b)

If the holder has exercised the power and the disclaimer is of a power other than a presently exercisable general power of appointment, the disclaimer takes effect immediately after the last exercise of the power.

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(c)

The instrument creating the power is construed as if the power expired when the disclaimer became effective. Source. 2021, 206:2, Pt. VI, Sec. 10, eff. Aug. 10, 2021. ARTICLE 9 Disclaimer by Appointee, Object, or Taker in Default of Exercise of Power of Appointment

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