Nebraska § 30-4605 Creation of power of appointment

Nebraska Statutes

§ 30-4605 — Creation of power of appointment

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

(a)A power of appointment is created only if:

(1)the instrument creating the power:

(A)is valid under applicable law; and

(B)except as otherwise provided in subsection (b) of this section, transfers the appointive property; and

(2)the terms of the instrument creating the power manifest the donor's intent to create in a powerholder a power of appointment over the appointive property exercisable in favor of a permissible appointee.

(b)Subdivision (a)(1)(B) of this section does not apply to the creation of a power of appointment by the exercise of a power of appointment.

(c)A power of appointment may not be created in a deceased individual.

(d)Subject to an applicable rule against perpetuities, a power of appointment may be created in an unborn or unascertained powerholder.

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(a) A power of appointment is created only if:
(1) the instrument creating the power:
(A) is valid under applicable law; and
(B) except as otherwise provided in subsection (b) of this section, transfers the appointive property; and
(2) the terms of the instrument creating the power manifest the donor's intent to create in a powerholder a power of appointment over the appointive property exercisable in favor of a permissible appointee.
(b) Subdivision (a)(1)(B) of this section does not apply to the creation of a power of appointment by the exercise of a power of appointment.
(c) A power of appointment may not be created in a deceased individual.
(d) Subject to an applicable rule against perpetuities, a power of appointment may be created in an unborn or unascertained powerholder.

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