Section 10-4.1. Rules for creation of a power of appointment.

(a) The donor of a power of appointment:
    (1) Must be a person capable of transferring the appointive property.
    (2)  Must  have  created or reserved the power by a written instrument
  executed by him in the manner required by law.
    (3) Must manifest his intention  to  confer  the  power  on  a  person
  capable of holding the appointive property.
    (4)  Cannot  nullify or alter the rights of creditors of the donee, as
  defined in this article, by any language in the instrument  creating  or
  reserving  the  power  purporting  to  give the interest of such donee a
  spendthrift character.