Nebraska § 30-4621 Disposition of unappointed property under released or unexercised nongeneral power

Nebraska Statutes

§ 30-4621 — Disposition of unappointed property under released or unexercised nongeneral power

Nebraska § 30-4621

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

This text of Nebraska § 30-4621 (Disposition of unappointed property under released or unexercised nongeneral power) 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. § 30-4621 (2026).

Text

To the extent a powerholder releases, ineffectively exercises, or fails to exercise a nongeneral power of appointment:

(1)the gift in default clause controls the disposition of the unappointed property; or

(2)if there is no gift in default clause or to the extent the clause is ineffective, the unappointed property:

(A)passes to the permissible appointees if:

(i)the permissible appointees are defined and limited; and

(ii)the terms of the instrument creating the power do not manifest a contrary intent; or

(B)if there is no taker under subdivision (A) of this subdivision, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.

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To the extent a powerholder releases, ineffectively exercises, or fails to exercise a nongeneral power of appointment:
(1) the gift in default clause controls the disposition of the unappointed property; or
(2) if there is no gift in default clause or to the extent the clause is ineffective, the unappointed property:
(A) passes to the permissible appointees if:
(i) the permissible appointees are defined and limited; and
(ii) the terms of the instrument creating the power do not manifest a contrary intent; or
(B) if there is no taker under subdivision (A) of this subdivision, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.