10-5.2 - Contract to Appoint; Power Presently Exercisable

NY Est Pow & Trusts L § 10-5.2 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

The donee of a power of appointment which is presently exercisable, or of a postponed power which has become exercisable, can contract to make an appointment to the extent that the contract or the promised appointment does not confer a benefit upon a person who is not a permissible appointee under the power.