power. To the extent a powerholder of a general power of appointment, other than a power to withdraw property from, revoke, or amend a trust, makes an ineffective appointment: (1) the gift-in-default clause controls the disposition of the ineffectively appointed property; or (2) if there is no gift-in-default clause or to the extent the clause is ineffective, the ineffectively appointed property: (a) passes to: (i) the powerholder if the powerholder is a permissible appointee and is living; or (ii) if the powerholder is an impermissible appointee or is deceased, the powerholder's estate if the estate is a permissible appointee; or (b) if there is no taker under Subsection (2)(a), passes under a reversionary interest to the donor or the donor's transferee or successor in interest. Renumbered and Amended by Chapter 364, 2024 General Session
‹ Prev All Utah sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.