702.302 Intent to exercise: determining intent from residuary clause.
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/wi/chapter-702/702-302-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
702.302 Intent to exercise: determining intent from residuary clause.
(1)In this section:
(a)“Residuary clause” does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause.
(b)“Will” includes a codicil and a testamentary instrument that revises another will.
(2)A residuary clause in a powerholder’s will, or a comparable clause in the powerholder’s revocable trust, manifests the powerholder’s intent to exercise a power of appointment only if all of the following apply:
(a)The terms of the instrument containing the residuary clause do not manifest a contrary intent.
(b)The power of appointment is a general power of appointment exercisable in favor of the powerholder’s estate.
(c)There is no gift-in-default clause in the instrument creating the power of appointment or the gift-in-default clause in the instrument creating the power of appointment is ineffective.
(d)The powerholder did not release the power of appointment.