Nebraska Statutes 30-4613. Intent to exercise: After-acquired power
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Unless the terms of the instrument exercising a power of appointment manifest a contrary intent:
Terms Used In Nebraska Statutes 30-4613
- Donor: The person who makes a gift.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
(1) except as otherwise provided in subdivision (2) of this section, a blanket exercise clause extends to a power acquired by the powerholder after executing the instrument containing the clause; and
(2) if the powerholder is also the donor of the power, the clause does not extend to the power unless there is no gift in default clause or the gift in default clause is ineffective.