§ 19-1703.02. Intent to exercise: determining intent from residuary clause.

(a) For the purposes of this section, the term: (1) "Residuary clause" does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause. (2) "Will" includes a codicil and a testamentary instrument that revises another will. (b) A residuary clause in a powerholder's will, or a comparable clause in the powerholder's revocable trust, manifests the powerholder's intent to exercise a power of appointment only if: (1) The terms of the instrument containing the residuary clause do not manifest a contrary intent; (2) The power is a general power exercisable in favor of the powerholder's estate; (3) There is no gift-in-default clause or the clause is ineffective; and (4) The powerholder did not release the power.