KRS 390.120: Intent to exercise -- Determining intent from residuary clause.

(1) As used in this section:

(a) "Residuary clause" does not include a residuary clause containing a blanket -

exercise clause or a specific-exercise clause; and

(b) "Will" includes a codicil and a testamentary instrument that revises another

will.

(2) A residua ry 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 it is ineffective; and

(d) The powerholder did not release the power.