§55-25.1. Exercise of special powers of appointment


Published: 2015

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§ 55-25.1. Exercise of special powers of appointment.

If, but only if, the instrument creating a special power of appointment does not manifest a contrary intent of the donor, the donee of such a power, in addition to exercising the power in any other manner permitted by law and the instrument creating the power, may effectively appoint to a trustee or trustees for the benefit of one or more objects of the power and, in the case of any power created by an instrument executed on or after July 1, 1978, may, in addition, create in an object of the power a general power of appointment, exercisable during life or at death, over assets subject to the original power or a special power of appointment, exercisable during life or at death, to appoint such assets among objects all of whom are objects of the original power.
1978, c. 315.