Intent to exercise -- Determining intent from residuary clause.

(1) As used in this section,"residuary clause" does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause. (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: (a) the terms of the instrument containing the residuary clause do not manifest a contrary intent; (b) the power is a general power exercisable in favor of the powerholder's estate; (c) there is no gift-in-default clause or the clause is ineffective; and (d) the powerholder did not release the power.