Sec. 1312. Intent to exercise: after-acquired power.
78 words·~1 min read·
/il/chapter-760/act-3/1312A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 1312. Intent to exercise: after-acquired power. Unless the terms of the instrument exercising a power of appointment manifest a contrary intent:
(1)except as otherwise provided in paragraph (2), a blanket-exercise clause extends to
a power acquired by the powerholder after executing the instrument containing the clause; and
(2)if the powerholder is also the donor of the power, the clause does not extend to
the power unless there is no gift-in-default clause or it is ineffective.