N.Y. Estates, Powers & Trusts Law § 10-6.2: Exercise of a power of appointment; conformity to directions of

§ 10-6.2 Exercise of a power of appointment; conformity to directions of

donor

(a) Subject to the power of a court of competent jurisdiction to

remedy a defective execution of an imperative power of appointment, the

directions of the donor as to the manner, time and conditions of the

exercise of a power must be observed, except that:

(1) Where the donor has authorized it to be exercised by an instrument

legally insufficient to dispose of the appointive property, the manner

of exercise is to be determined by the provisions of this article.

(2) Where the donor has directed any formality to be observed in its

exercise, in addition to those which would be legally sufficient to

dispose of the appointive property, such additional formality is not

necessary to a valid exercise of such power.

(3) Where the donor has made the power exercisable only by deed, it is

also exercisable by a written will unless exercise by will is expressly

excluded.

(4) Where the donor of a general power of appointment has not

expressly imposed a requirement of good faith or of reasonableness with

respect to the donee's exercise of such power, neither such requirement

shall be implied.