{"data":{"id":"us-ky/krs-390.020","jurisdiction":"us-ky","citation":"KRS 390.020","heading":"Definitions.","body":"As used in this chapter:\n(1) \"Appointee\" means a person to whom a powerholder makes an appointment of\nappointive property;\n(2) \"Appointive property\" means the property or property interest subject to a power of\nappointment;\n(3) \"Blanket-exercise clause\" means a clause in an instrument  which exercises a power\nof appointment and is not a specific -exercise clause. The term includes a clause\nthat:\n(a) Expressly uses the words \"any power\" in exercising any power of appointment\nthe powerholder has;\n(b) Expressly uses the words \"any property\"  in appointing any property over\nwhich the powerholder has a power of appointment; or\n(c) Disposes of all property subject to disposition by the powerholder;\n(4) \"Donor\" means a person who creates a power of appointment;\n(5) \"Exclusionary power of appointment\" means a power of appointment exercisable in\nfavor of any one (1) or more of the permissible appointees to the exclusion of the\nother permissible appointees;\n(6) \"General power of appointment\" means a power of appointment exercisable in favor\nof the po werholder, the powerholder's estate, a creditor of the powerholder, or a\ncreditor of the powerholder's estate;\n(7) \"Gift-in-default clause\" means a clause identifying a taker in default of\nappointment;\n(8) \"Impermissible appointee\" means a person who is not a permissible appointee;\n(9) \"Instrument\" means a writing;\n(10) \"Nongeneral power of appointment\" means a power of appointment that is not a\ngeneral power of appointment;\n(11) \"Permissible appointee\" means a person in whose favor a powerholder may exercise\na power of appointment;\n(12) \"Person\" means an individual, estate, trust, business or nonprofit entity, public\ncorporation, government or governmental subdivision, agency, or instrum entality,\nor other legal entity;\n(13) \"Power of appointment\" means a power that enables a powerholder acting in a\nnonfiduciary capacity to designate a recipient of an ownership interest in or another\npower of appointment over the appointive property. The t erm does not include a\npower of attorney;\n(14) \"Powerholder\" means a person in whom a donor creates a power of appointment;\n(15) \"Presently exercisable power of appointment\" means a power of appointment\nexercisable by the powerholder at the time in question. The term:\n(a) Includes a power of appointment not exercisable until the occurrence of a\nspecified event, the satisfaction of an ascertainable standard, or the passage of\na specified time only after:\n1. The occurrence of the specified event;\n2. The satisfaction of the ascertainable standard; or\n3. The passage of the specified time; and\n(b) Does not include a power exercisable only at the powerholder's death;\n(16) \"Specific-exercise clause\" means a clause in an instrument which specifically refers\nto and exercises a particular power of appointment;\n(17) \"Taker in default of appointment\" means a person who takes part or all of the\nappointive property to the extent the powerholder does not effectively exercise the\npower of appointment; and\n(18) \"Terms of the instrument\" means the manifestation of the intent of the maker of the\ninstrument regarding the instrument's provisions as expressed in the instrument or\nas may be established by other evidence that would be admissible in a legal\nproceeding.","path":["KRS Chapter 390"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=50110","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:22Z","sha256":"3e6f4ebb2c14415cd101d6b9ee3fad4d9501f6fcca1ef934a6435b407f28a7af","source_id":"us-ky","stale":false,"prev":"us-ky/krs-390.010","next":"us-ky/krs-390.030"},"notice":"GroundRules: Original legal text. Not legal advice."}