§ 72-7-303

72-7-303. Intent to exercise -- after-acquired power. Unless the terms of the instrument exercising a power of appointment manifest a contrary intent: (1) except as otherwise provided in subsection (2), a blanket-exercise clause extends to a power acquired by the powerholder after executing the instrument containing the clause; and (2) if the powerholder is also the donor of the power, the clause does not extend to the power unless there is no gift-in-default clause or the gift-in-default clause is ineffective. History: En. Sec. 13, Ch. 293, L. 2015.