Intent to exercise: Determining intent from residuary clause.

(a) In this section: (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.