§ 30-4638 — Application to existing relationships

(a) Except as otherwise provided in the Uniform Powers of Appointment Act, on and after August 28, 2021:
(1) the Uniform Powers of Appointment Act applies to a power of appointment created before, on, or after August 28, 2021;
(2) the Uniform Powers of Appointment Act applies to a judicial proceeding concerning a power of appointment commenced on or after August 28, 2021;
(3) the Uniform Powers of Appointment Act applies to a judicial proceeding concerning a power of appointment commenced before August 28, 2021, unless the court finds that application of a particular provision of the Uniform Powers of Appointment Act would interfere substantially with the effective conduct of the judicial proceeding or prejudice a right of a party, in which case the particular provision of the Uniform Powers of Appointment Act does not apply and the superseded law applies;
(4) a rule of construction or presumption provided in the Uniform Powers of Appointment Act applies to an instrument executed before August 28, 2021, unless there is a clear indication of a contrary intent in the terms of the instrument; and
(5) except as otherwise provided in subdivisions (1) through (4) of this subsection, an action done before August 28, 2021, is not affected by the Uniform Powers of Appointment Act.
(b) If a right is acquired, extinguished, or barred on the expiration of a prescribed period that commenced under law of this state other than the Uniform Powers of Appointment Act before August 28, 2021, the law continues to apply to the right.

Legislative History

Source: Laws 2021, LB501, § 61.