Nebraska § 30-4305 (UDTA 5) Exclusions

Nebraska Statutes

§ 30-4305 — (UDTA 5) Exclusions

Nebraska § 30-4305

Ch. 30Decedents' Estates; Protection of Persons and Property

This text of Nebraska § 30-4305 ((UDTA 5) Exclusions) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 30-4305 (2026).

Text

(UDTA 5) (a) In this section, power of appointment means a power that enables a person acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over trust property.

(b)The Nebraska Uniform Directed Trust Act does not apply to a:

(1)power of appointment;

(2)power to appoint or remove a trustee or trust director;

(3)power of a settlor over a trust to the extent the settlor has a power to revoke the trust;

(4)power of a beneficiary over a trust to the extent the exercise or nonexercise of the power affects the beneficial interest of:

(A)the beneficiary; or

(B)the beneficial interest of another beneficiary represented by the beneficiary under sections 30-3822 to 30-3826 with respect to the exercise or nonexercise of the p

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(UDTA 5) (a) In this section, power of appointment means a power that enables a person acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over trust property.
(b) The Nebraska Uniform Directed Trust Act does not apply to a:
(1) power of appointment;
(2) power to appoint or remove a trustee or trust director;
(3) power of a settlor over a trust to the extent the settlor has a power to revoke the trust;
(4) power of a beneficiary over a trust to the extent the exercise or nonexercise of the power affects the beneficial interest of:
(A) the beneficiary; or
(B) the beneficial interest of another beneficiary represented by the beneficiary under sections 30-3822 to 30-3826 with respect to the exercise or nonexercise of the power;
(5) power over a trust if:
(A) the terms of the trust provide that the power is held in a nonfiduciary capacity; and
(B) the power must be held in a nonfiduciary capacity to achieve the settlor's tax objectives under the Internal Revenue Code of 1986 as defined in section 49-801.01 ; or
(6) power over a trust if:
(A) the terms of the trust provide that the power is held in a nonfiduciary capacity; and
(B) the power must be held in a nonfiduciary capacity to correct a mistake of the scrivener in order to conform the terms of the trust with the intention of a settlor. The correction must not reform the trust in any material respect.
(c) Unless the terms of a trust provide otherwise, a power granted to a person to designate a recipient of an ownership interest in or power of appointment over trust property which is exercisable while the person is not serving as a trustee is a power of appointment and not a power of direction.