§ 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.

Legislative History

Source: Laws 2021, LB501, § 31.