2022 Nebraska Revised Statutes
Chapter 30 - Decedents' Estates; Protection of Persons and Property
30-4612 - Intent to exercise: Determining intent from residuary clause.
30-4612. Intent to exercise: Determining intent from residuary clause.
(a) In this section:
(1) Residuary clause does not include a residuary clause containing a blanket exercise clause or a specific exercise clause.
(2) Will includes a codicil and a testamentary instrument that revises another will.
(b) A residuary clause in a powerholder's will, or a comparable clause in the powerholder's revocable trust, manifests the powerholder's intent to exercise a power of appointment only if:
(1) the terms of the instrument containing the residuary clause do not manifest a contrary intent;
(2) the power is a general power exercisable in favor of the powerholder's estate;
(3) there is no gift in default clause or the clause is ineffective; and
(4) the powerholder did not release the power.
Source
- Laws 2021, LB501, ยง 35.
