Nebraska § 30-4612 Intent to exercise: Determining intent from residuary clause

Nebraska Statutes

§ 30-4612 — Intent to exercise: Determining intent from residuary clause

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

(a)In this section:

(1)Residuary clause does not include a residuary clause containing a blanket exercise clause or a specific exercise clause.

(2)Will includes a codicil and a testamentary instrument that revises another will.

(b)A residuary clause in a powerholder's will, or a comparable clause in the powerholder's revocable trust, manifests the powerholder's intent to exercise a power of appointment only if:

(1)the terms of the instrument containing the residuary clause do not manifest a contrary intent;

(2)the power is a general power exercisable in favor of the powerholder's estate;

(3)there is no gift in default clause or the clause is ineffective; and

(4)the powerholder did not release the power.

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(a) In this section:
(1) Residuary clause does not include a residuary clause containing a blanket exercise clause or a specific exercise clause.
(2) Will includes a codicil and a testamentary instrument that revises another will.
(b) A residuary clause in a powerholder's will, or a comparable clause in the powerholder's revocable trust, manifests the powerholder's intent to exercise a power of appointment only if:
(1) the terms of the instrument containing the residuary clause do not manifest a contrary intent;
(2) the power is a general power exercisable in favor of the powerholder's estate;
(3) there is no gift in default clause or the clause is ineffective; and
(4) the powerholder did not release the power.

Nebraska § 30-4612 (Intent to exercise: Determining intent from residuary clause) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.