N.Y. Estates, Powers & Trusts Law § 10-6.1: Exercise of a power of appointment; manifestation of intention

§ 10-6.1 Exercise of a power of appointment; manifestation of intention

of donee

(a) Subject to paragraph (b), an effective exercise of a power of

appointment does not require an express reference to such power. A power

is effectively exercised if the donee manifests his intention to

exercise it. Such a manifestation exists when the donee:

(1) Declares in substance that he is exercising all the powers he has;

(2) Sufficiently identifying the appointive property or any part

thereof, executes an instrument purporting to dispose of such property

or part;

(3) Makes a disposition which, when read with reference to the

property he owned and the circumstances existing at the time of its

making, manifests his understanding that he was disposing of the

appointive property; or

(4) Leaves a will disposing of all of his property or all of his

property of the kind covered by the power, unless the intention that the

will is not to operate as an execution of the power appears expressly or

by necessary implication.

(b) If the donor has expressly directed that no instrument shall be

effective to exercise the power unless it contains a specific reference

to the power, an instrument not containing such reference does not

validly exercise the power.