633.3105  Rights of and creditor claims against holder of general power of appointment.

1.  The holder of a presently exercisable general power of appointment over trust property has the rights of a holder of the power to revoke a trust under section 633.3103 to the extent of the property subject to the power.

2.  Property in trust subject to a presently exercisable general power of appointment is chargeable with the claims of the holder's creditors and costs of administration of the holder's estate to the same extent as if the holder was a settlor and the power of appointment was a power of revocation.

Section History: Recent form

  99 Acts, ch 125, §29, 109

Footnotes

  Section effective July 1, 2000; 99 Acts, ch 125, §109


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