Uniform Powers of Appointment Act
Powers of Appointment are routinely included in trusts drafted throughout the United States, but there is little statutory law governing their use. Instead, estate-planning attorneys rely on a patchwork of common-law decisions. The Uniform Powers of Appointment Act codifies the law on powers of appointment, relying heavily on the Restatement (Third) of Property: Wills and Other Donative Transfers, published in 2011 by the American Law Institute. Therefore, estate planners will already be familiar with the provisions of this uniform act.
Status: Signed into law on May 15, 2014.
|Uniform Powers of Appointment Act||208.65 KB|