California Probate Code

§ 661

PROB § 661 Effective Jan 1, 2017Div. 2 · Part 14 · Ch. 4 · Art. 5

Statute text

(a)Unless the creating instrument otherwise provides, a general or special power of appointment that is a discretionary power, whether testamentary or otherwise, may be released, either with or without consideration, by a written instrument signed by the powerholder and delivered as provided in subdivision (c).

(b)A releasable power may be released with respect to the whole or any part of the appointive property and may also be released in such manner as to reduce or limit the permissible appointees. No partial release of a power shall be deemed to make imperative the remaining power that was not imperative before the release unless the instrument of release expressly so provides. No release of a power that is not presently exercisable is permissible where the donor designated persons or a class to take in default of the powerholder’s exercise of the power unless the release serves to benefit all persons designated as provided by the donor.

(c)A release shall be delivered as follows:

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Legislative history

Amended by Stats. 2016, Ch. 81, Sec. 15. (AB 2846) Effective January 1, 2017.