Current with changes from the 2024 Legislative Session
Section 456.1065 - Disposition of unappointed property under released or unexercised nongeneral powerTo the extent a powerholder releases, ineffectively exercises, or fails to exercise a nongeneral power of appointment:
(1) The gift-in-default clause controls the disposition of the unappointed property; or(2) If there is no gift-in-default clause or to the extent the clause is ineffective, the unappointed property: (a) Passes to the permissible appointees if: a. The permissible appointees are defined and limited; andb. The terms of the instrument creating the power do not manifest a contrary intent; or(b) If there is no taker under paragraph (a) of this subdivision, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.Added by 2016 Mo. Laws, HB 1765,s A, eff. 8/28/2016.