Neb. Rev. Stat. §§ 30-4608

Current with changes through the 2024 First Special Legislative Session

Section 30-4608 - Exception to presumption of unlimited authority

Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if:

(1) the power is exercisable only at the powerholder's death; and

(2) the permissible appointees of the power are a defined and limited class that does not include the powerholder's estate, the powerholder's creditors, or the creditors of the powerholder's estate.

Neb. Rev. Stat. §§ 30-4608

Laws 2021, LB 501, § 31.

Laws 2021, LB 501,§ 31, eff. 8/28/2021.