Section 702.309 - Capture doctrine: disposition of ineffectively appointed property under general powerTo the extent a powerholder of a general power of appointment, other than a power to withdraw property from, revoke, or amend a trust, makes an ineffective appointment, all of the following apply:
(1) The gift-in-default clause controls the disposition of the ineffectively appointed property.(2)(a) If there is no gift-in-default clause or to the extent the gift-in-default clause is ineffective, the ineffectively appointed property passes to one of the following:1. If the powerholder is a permissible appointee and living, the powerholder.2. If the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee.(b) If there is no taker under par. (a), the ineffectively appointed property passes under a reversionary interest to the donor or the donor's transferee or successor in interest. Added by Acts 2023 ch, 127,s 118, eff. 3/23/2024.