Nebraska § 30-4634 Power to withdraw

Nebraska Statutes

§ 30-4634 — Power to withdraw

Nebraska § 30-4634

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

This text of Nebraska § 30-4634 (Power to withdraw) 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. § 30-4634 (2026).

Text

(a)For purposes of the Uniform Powers of Appointment Act, and except as otherwise provided in subsection (b) of this section, a power to withdraw property from a trust is treated, during the time the power may be exercised, as a presently exercisable general power of appointment to the extent of the property subject to the power to withdraw.

(b)On the lapse, release, or waiver of a power to withdraw property from a trust, the power is treated as a presently exercisable general power of appointment only to the extent the value of the property affected by the lapse, release, or waiver exceeds the greater of the amount specified in 26 U.S.C. 2041(b)(2) and 26 U.S.C. 2514(e) or the amount specified in 26 U.S.C. 2503(b), as such sections existed on January 1, 2021.

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(a) For purposes of the Uniform Powers of Appointment Act, and except as otherwise provided in subsection (b) of this section, a power to withdraw property from a trust is treated, during the time the power may be exercised, as a presently exercisable general power of appointment to the extent of the property subject to the power to withdraw.
(b) On the lapse, release, or waiver of a power to withdraw property from a trust, the power is treated as a presently exercisable general power of appointment only to the extent the value of the property affected by the lapse, release, or waiver exceeds the greater of the amount specified in 26 U.S.C. 2041(b)(2) and 26 U.S.C. 2514(e) or the amount specified in 26 U.S.C. 2503(b), as such sections existed on January 1, 2021.