Nebraska Statutes 49-807. Power of attorney; powers relatingto rights of survivorship and beneficiary designations
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An agent or attorney in fact under a power of attorney, whether the power of attorney is durable or nondurable, may do the following on behalf of the principal or with the principal’s property only if the power of attorney expressly grants the agent or attorney in fact the authority and exercise of the authority is not otherwise prohibited by another agreement or instrument to which the authority or property is subject:
Terms Used In Nebraska Statutes 49-807
- Attorney: shall mean attorney at law. See Nebraska Statutes 49-801
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
(1) Create or change rights of survivorship; or
(2) Create or change a beneficiary designation.