Exception to presumption of unlimited authority

702.204 Exception to presumption of unlimited authority. Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is a nongeneral power of appointment if all of the following apply: (1) The power is exercisable only at the powerholder’s death. (2) The permissible appointees of the power are a defined and limited class that does not include the powerholder’s estate, the powerholder’s creditors, or the creditors of the powerholder’s estate. History: 2023 a. 127.