Nebraska § 30-4635 Creditor claim: Nongeneral power

Nebraska Statutes

§ 30-4635 — Creditor claim: Nongeneral power

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

(a)Except as otherwise provided in subsections (b) and (c) of this section, appointive property subject to a nongeneral power of appointment is exempt from a claim of a creditor of the powerholder or the powerholder's estate.

(b)Appointive property subject to a nongeneral power of appointment is subject to a claim of a creditor of the powerholder or the powerholder's estate to the extent that the powerholder owned the property and, reserving the nongeneral power, transferred the property in violation of the Uniform Voidable Transactions Act.

(c)If the initial gift in default of appointment is to the powerholder or the powerholder's estate, a nongeneral power of appointment is treated for purposes of the Uniform Powers of Appointment Act as a general power.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Except as otherwise provided in subsections (b) and (c) of this section, appointive property subject to a nongeneral power of appointment is exempt from a claim of a creditor of the powerholder or the powerholder's estate.
(b) Appointive property subject to a nongeneral power of appointment is subject to a claim of a creditor of the powerholder or the powerholder's estate to the extent that the powerholder owned the property and, reserving the nongeneral power, transferred the property in violation of the Uniform Voidable Transactions Act.
(c) If the initial gift in default of appointment is to the powerholder or the powerholder's estate, a nongeneral power of appointment is treated for purposes of the Uniform Powers of Appointment Act as a general power.

Nebraska § 30-4635 (Creditor claim: Nongeneral power) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.