§ 72-7-302

72-7-302. Intent to exercise -- determining intent from residuary clause. (1) In this section: (a) 'Residuary clause' does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause. (b) 'Will' includes a codicil and a testamentary instrument that revises another will. (2) A residuary clause in a powerholder's will or a comparable clause in the powerholder's revocable trust manifests the powerholder's intent to exercise a power of appointment only if: (a) the terms of the instrument containing the residuary clause do not manifest a contrary intent; (b) the power is a general power exercisable in favor of the powerholder's estate; (c) there is no gift-in-default clause or the clause is ineffective; and (d) the powerholder did not release the power. History: En. Sec. 12, Ch. 293, L. 2015.