2022 Nebraska Revised Statutes
Chapter 30 - Decedents' Estates; Protection of Persons and Property
30-4635 - Creditor claim: Nongeneral power.
30-4635. Creditor claim: Nongeneral power.
(a) Except as otherwise provided in subsections (b) and (c) of this section, appointive property subject to a nongeneral power of appointment is exempt from a claim of a creditor of the powerholder or the powerholder's estate.
(b) Appointive property subject to a nongeneral power of appointment is subject to a claim of a creditor of the powerholder or the powerholder's estate to the extent that the powerholder owned the property and, reserving the nongeneral power, transferred the property in violation of the Uniform Voidable Transactions Act.
(c) If the initial gift in default of appointment is to the powerholder or the powerholder's estate, a nongeneral power of appointment is treated for purposes of the Uniform Powers of Appointment Act as a general power.
Source
- Laws 2021, LB501, ยง 58.
Cross References
- Uniform Voidable Transactions Act, see section 36-801.
