Current through 2020 Legislative Session
(a) The exercise of a power of appointment requires a manifestation of the powerholder's intent to exercise the power.(b) A manifestation of the powerholder's intent to exercise a power of appointment exists in any of the following circumstances: (1) The powerholder declares, in substance, that the powerholder exercises specific powers or all the powers the powerholder has.(2) The powerholder purports to transfer an interest in the appointive property that the powerholder would have no power to transfer except by virtue of the power.(3) The powerholder makes a disposition that, when considered with reference to the property owned and the circumstances existing at the time of the disposition, manifests the powerholder's understanding that the powerholder was disposing of the appointive property.(c) The circumstances described in subdivision (b) are illustrative, not exclusive.Amended by Stats 2016 ch 81 (AB 2846),s 8, eff. 1/1/2017.