§ 19–1703.02. Intent to exercise: determining intent from residuary clause.

(a) For the purposes of this section, the term:

(1) "Residuary clause" does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause.

(2) "Will" includes a codicil and a testamentary instrument that revises another will.

(b) 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:

(1) The terms of the instrument containing the residuary clause do not manifest a contrary intent;

(2) The power is a general power exercisable in favor of the powerholder's estate;

(3) There is no gift-in-default clause or the clause is ineffective; and

(4) The powerholder did not release the power.