Section 390.190 - Capture doctrine - Disposition of ineffectively appointed property under general powerTo the extent a powerholder of a general power of appointment, other than a power to revoke, amend, or withdraw property from a trust, makes an ineffective appointment:
(1) The gift-in-default clause controls the disposition of the ineffectively appointed property; or(2) If there is no gift-in-default clause or to the extent the clause is ineffective, the ineffectively appointed property:(a) Passes to:1. The powerholder if the powerholder is a permissible appointee and living; or2. If the powerholder is an impermissible appointee or not living, the powerholder's estate if the estate is a permissible appointee; or(b) If there is no taker under paragraph (a) of this subsection, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.Added by 2020 Ky. Acts ch. 41,§ 18, eff. 7/14/2020.