Q: Validity of a will regarding power of appointment in NY
I have a question regarding the validity of a will in New York. There is a clause stating that "any power of appointment hereunder must be exercised by the creator's will, living trust, or other written instrument which, within ninety (90) days of the creator's death, must be either submitted for probate." How does this impact the validity of a will if the power of appointment was not exercised or submitted within the stated timeframe? Are there precedents in New York probate law that address situations like this?
A:
Your question involves a power of appointment clause, which can impact the validity and distribution of assets under a will. In New York probate law, this type of provision can be strictly interpreted, so if the power of appointment was not exercised or submitted for probate within 90 days, the legal consequences could depend on a few key factors.
What Could Happen If the Power of Appointment Was Not Exercised in Time?
The Power of Appointment May Expire
If the will or trust requires that the power be exercised within 90 days of death, and it was not, the ability to direct assets through the power could be lost. This could mean that default beneficiaries (as stated in the will or trust) inherit instead.
The Will Itself May Still Be Valid
A failure to exercise the power of appointment typically does not invalidate the will as a whole.
However, the specific assets or trust funds linked to the power could revert to default heirs or beneficiaries.
Precedents & Court Interpretation
New York courts generally enforce the language of wills and trusts, unless there’s a legal reason (like ambiguity or undue influence) to override it. There may be cases where courts have ruled on whether a missed deadline for exercising a power of appointment invalidates a bequest, but this depends on how strictly the clause is worded.
What Should You Do Next?
Since the validity of the will and distribution of assets could be at stake, it’s important to review the document carefully and determine if there’s room for legal interpretation. You may need an attorney to assist you with that.
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