(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.)
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