390.050 Creation of power of appointment. (1) A power of appointment is created only if: (a) The instrument creating the power: 1. Is valid under applicable law; and 2. Except as otherwise provided in subsection (2) of this section, transfers the appointive property; and (b) The terms of the instrumen t creating the power manifest the donor's intent to create, in a powerholder, a power of appointment over the appointive property exercisable in favor of a permissible appointee. (2) Subsection (1)(a)2. of this section does not apply to the creation of a p ower of appointment by the exercise of a power of appointment. (3) A power of appointment may not be created in a deceased individual. (4) Subject to an applicable rule against perpetuities, a power of appointment may be created in an unborn or unascertain ed powerholder. Effective: July 15, 2020 History: Created 2020 Ky. Acts ch. 41, sec. 4, effective July 15, 2020.
Kentucky Legal Code