RSA 564-B:10-1016 · Powers of Appointment

564-B:10-1016 Powers of Appointment. –

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(a)

A power of appointment is exercised only:

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(1)

If the instrument exercising the power is valid under applicable law;

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(2)

If the terms of the instrument exercising the power:

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(A)

Manifest the powerholder's intent to exercise the power; and

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(B)

Subject to subsection (b), satisfy any requirements that the terms of the trust may impose on the exercise of the power; and

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(3)

To the extent that the appointment is a permissible exercise of the power.

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(b)

A powerholder's substantial compliance with a formal requirement of appointment imposed by the terms of the trust, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if:

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(1)

The powerholder knows of and intends to exercise the power;

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(2)

The terms of the trust do not require strict compliance with the formal requirement of appointment imposed by the settlor; and

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(3)

The powerholder's manner of attempted exercise of the power does not impair a material purpose of the trust. Source. 2017, 257:28, eff. July 18, 2017. ARTICLE 11 MISCELLANEOUS PROVISIONS

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