Subject to the terms of the instrument creating the power, a residuary clause in a will exercises a power of appointment held by the testator only if:
(1) An intent to exercise the power is expressly indicated in the will; or
(2) The instrument creating the power of appointment fails to provide for disposition of the subject matter of the power upon its nonexercise.
Structure Maryland Statutes
Subtitle 4 - Rules Relating to Legacies
Section 4-401 - Legatee Failing to Survive Testator by 30 Days
Section 4-402 - Presumption That Will Passes All Property
Section 4-404 - Void or Inoperative Legacies
Section 4-405 - Change in Securities
Section 4-407 - Exercise of Power of Appointment
Section 4-408 - Will Passes Entire Interest of Testator
Section 4-409 - Legacy for Charitable Use
Section 4-410 - "Die Without Issue" and Similar Phrases
Section 4-411 - Legacy to Inter Vivos Trust
Section 4-412 - Legacy to Testamentary Trust