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2022 Nebraska Revised Statutes
Chapter 30 - Decedents' Estates; Protection of Persons and Property
30-4609 - Rules of classification.
Universal Citation: NE Code § 30-4609 (2022)
30-4609. Rules of classification.
(a) In this section, adverse party means a person with a substantial beneficial interest in property which would be affected adversely by a powerholder's exercise or nonexercise of a power of appointment in favor of the powerholder, the powerholder's estate, a creditor of the powerholder, or a creditor of the powerholder's estate.
(b) If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral.
(c) If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary.
Source
- Laws 2021, LB501, ยง 32.
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