(a) Except as provided in subdivision (b), if the powerholder of a discretionary power of appointment fails to appoint the property, releases the entire power, or makes an ineffective appointment, in whole or in part, the appointive property not effectively appointed passes to the person named by the donor as taker in default or, if there is none, reverts to the donor.
(b) If the powerholder of a general power of appointment makes an ineffective appointment, an implied alternative appointment to the powerholder’s estate may be found if the powerholder has manifested an intent that the appointive property be disposed of as property of the powerholder rather than as in default of appointment.
(Amended by Stats. 2016, Ch. 81, Sec. 18. (AB 2846) Effective January 1, 2017.)
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