(a) A power of appointment is “general” only to the extent that it is exercisable in favor of the powerholder, the powerholder’s estate, the powerholder’s creditors, or creditors of the powerholder’s estate, whether or not it is exercisable in favor of others.
(b) A power to consume, invade, or appropriate property for the benefit of a person in discharge of the powerholder’s obligation of support that is limited by an ascertainable standard relating to the person’s health, education, support, or maintenance is not a general power of appointment.
(c) A power exercisable by the powerholder only in conjunction with a person having a substantial interest in the appointive property that is adverse to the exercise of the power in favor of the powerholder, the powerholder’s estate, the powerholder’s creditors, or creditors of the powerholder’s estate is not a general power of appointment.
(d) A power of appointment that is not “general” is “special.”
(e) A power of appointment may be general as to some appointive property, or an interest in or a specific portion of appointive property, and be special as to other appointive property.
(Amended by Stats. 2016, Ch. 81, Sec. 2. (AB 2846) Effective January 1, 2017.)
Last modified: October 25, 2018