Intent to exercise — determining intent from residuary clause.

456.1020. Intent to exercise — determining intent from residuary clause. — 1. As used in this section: (1) "Residuary clause" does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause; and (2) "Will" includes a codicil and a testamentary instrument that revises another will. 2. 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 power is a general power exercisable in favor of the powerholder's estate; (2) There is no gift-in-default clause or the clause is ineffective; and (3) The powerholder did not release the power. (L. 2016 H.B. 1765)