(a) If the creating instrument requires the consent of the donor or other person to exercise a power of appointment, the power can only be exercised when the required consent is contained in the instrument of exercise or in a separate written instrument, signed in each case by the person whose consent is required.
(b) Unless expressly prohibited by the creating instrument:
(1) If a person whose consent is required dies, the power may be exercised by the powerholder without the consent of that person.
(2) If a person whose consent is required becomes legally incapable of consenting, the person’s guardian or conservator may consent to an exercise of the power.
(3) A consent may be given before or after the exercise of the power by the powerholder.
(Amended by Stats. 2016, Ch. 81, Sec. 6. (AB 2846) Effective January 1, 2017.)
Last modified: October 25, 2018