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72-7-303. Intent to exercise -- after-acquired power

MT Code § 72-7-303 (2019) (N/A)
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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.

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