Nebraska § 30-4609 Rules of classification

Nebraska Statutes

§ 30-4609 — Rules of classification

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

(a)In this section, adverse party means a person with a substantial beneficial interest in property which would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.

(b)If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.

(c)If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.

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(a) In this section, adverse party means a person with a substantial beneficial interest in property which would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.
(b) If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.
(c) If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.

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