reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4503 - Scope.

30-4503.
Scope.
(a) Except as otherwise provided in subsections (b) and (c) of this section, the Uniform Trust Decanting Act applies to an express trust that is irrevocable or revocable by the settlor only with the consent of the trustee or a person holding an adverse interest.
(b) The act does not apply to a trust held solely for charitable purposes.
(c) Subject to section 30-4515, a trust instrument may restrict or prohibit exercise of the decanting power.
(d) The act does not limit the power of a trustee, powerholder, or other person to distribute or appoint property in further trust or to modify a trust under the trust instrument, law of this state other than the act, common law, a court order, or a nonjudicial settlement agreement.
(e) The act does not affect the ability of a settlor to provide in a trust instrument for the distribution of the trust property or appointment in further trust of the trust property or for modification of the trust instrument.
Source
Laws 2020, LB808, § 13.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4504 - Fiduciary duty.

30-4504.
Fiduciary duty.
(a) In exercising the decanting power, an authorized fiduciary shall act in accordance with its fiduciary duties, including the duty to act in accordance with the purposes of the first trust.
(b) The Uniform Trust Decanting Act does not create or imply a duty to exercise the decanting power or to inform beneficiaries about the applicability of the act.
(c) Except as otherwise provided in a first-trust instrument, for purposes of the act and section 30-3866 and subsection (a) of section 38-3867, the terms of the first trust are deemed to include the decanting power.
Source
Laws 2020, LB808, § 14.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4505 - Application; governing law.

30-4505.
Application; governing law.
The Uniform Trust Decanting Act applies to a trust created before, on, or after November 14, 2020, which:
(1) has its principal place of administration in this state, including a trust whose principal place of administration has been changed to this state; or
(2) provides by its trust instrument that it is governed by the law of this state or is governed by the law of this state for the purpose of:
(A) administration, including administration of a trust whose governing law for purposes of administration has been changed to the law of this state;
(B) construction of terms of the trust; or
(C) determining the meaning or effect of terms of the trust.
Source
Laws 2020, LB808, § 15.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4506 - Reasonable reliance.

30-4506.
Reasonable reliance.
A trustee or other person that reasonably relies on the validity of a distribution of part or all of the property of a trust to another trust, or a modification of a trust, under the Uniform Trust Decanting Act, law of this state other than the act, or the law of another jurisdiction is not liable to any person for any action or failure to act as a result of the reliance.
Source
Laws 2020, LB808, § 16.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4507 - Notice; exercise of decanting power.

30-4507.
Notice; exercise of decanting power.
(a) In this section, a notice period begins on the day notice is given under subsection (c) of this section and ends fifty-nine days after the day notice is given.
(b) Except as otherwise provided in the Uniform Trust Decanting Act, an authorized fiduciary may exercise the decanting power without the consent of any person and without court approval.
(c) Except as otherwise provided in subsection (f) of this section, an authorized fiduciary shall give notice in a record of the intended exercise of the decanting power not later than sixty days before the exercise to:
(1) each settlor of the first trust, if living or then in existence;
(2) each qualified beneficiary of the first trust;
(3) each holder of a presently exercisable power of appointment over any part or all of the first trust;
(4) each person that currently has the right to remove or replace the authorized fiduciary;
(5) each other fiduciary of the first trust;
(6) each fiduciary of the second trust;
(7) each person acting as an advisor or protector of the first trust;
(8) each person holding an adverse interest who has the power to consent to the revocation of the first trust; and
(9) the Attorney General, if subsection (b) of section 30-4514 applies.
(d) An authorized fiduciary is not required to give notice under subsection (c) of this section to a person that is not known to the fiduciary or is known to the fiduciary but cannot be located by the fiduciary after reasonable diligence.
(e) A notice under subsection (c) of this section must:
(1) specify the manner in which the authorized fiduciary intends to exercise the decanting power;
(2) specify the proposed effective date for exercise of the power;
(3) include a copy of the first-trust instrument; and
(4) include a copy of all second-trust instruments.
(f) The decanting power may be exercised before expiration of the notice period under subsection (a) of this section if all persons entitled to receive notice waive the period in a signed record.
(g) The receipt of notice, waiver of the notice period, or expiration of the notice period does not affect the right of a person to file an application under section 30-4509 asserting that:
(1) an attempted exercise of the decanting power is ineffective because it did not comply with the act or was an abuse of discretion or breach of fiduciary duty; or
(2) section 30-4522 applies to the exercise of the decanting power.
(h) An exercise of the decanting power is not ineffective because of the failure to give notice to one or more persons under subsection (c) of this section if the authorized fiduciary acted with reasonable care to comply with subsection (c) of this section.
Source
Laws 2020, LB808, § 17.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4508 - Representation.

30-4508.
Representation.
(a) Notice to a person with authority to represent and bind another person under a first-trust instrument or sections 30-3822 to 30-3826 has the same effect as notice given directly to the person represented.
(b) Consent of or waiver by a person with authority to represent and bind another person under a first-trust instrument or sections 30-3822 to 30-3826 is binding on the person represented unless the person represented objects to the representation before the consent or waiver otherwise would become effective.
(c) A person with authority to represent and bind another person under a first-trust instrument or sections 30-3822 to 30-3826 may file an application under section 30-4509 on behalf of the person represented.
(d) A settlor may not represent or bind a beneficiary for purposes of the Uniform Trust Decanting Act.
Source
Laws 2020, LB808, § 18.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4509 - Court involvement.

30-4509.
Court involvement.
(a) On application of an authorized fiduciary, a person entitled to notice under subsection (c) of section 30-4507, a beneficiary, or with respect to a charitable interest the Attorney General or other person that has standing to enforce the charitable interest, the court may:
(1) provide instructions to the authorized fiduciary regarding whether a proposed exercise of the decanting power is permitted under the Uniform Trust Decanting Act and consistent with the fiduciary duties of the authorized fiduciary;
(2) appoint a special fiduciary and authorize the special fiduciary to determine whether the decanting power should be exercised under the act and to exercise the decanting power;
(3) approve an exercise of the decanting power;
(4) determine that a proposed or attempted exercise of the decanting power is ineffective because:
(A) after applying section 30-4522, the proposed or attempted exercise does not or did not comply with the act; or
(B) the proposed or attempted exercise would be or was an abuse of the fiduciary's discretion or a breach of fiduciary duty;
(5) determine the extent to which section 30-4522 applies to a prior exercise of the decanting power;
(6) provide instructions to the trustee regarding the application of section 30-4522 to a prior exercise of the decanting power; or
(7) order other relief to carry out the purposes of the act.
(b) On application of an authorized fiduciary, the court may approve:
(1) an increase in the fiduciary's compensation under section 30-4516; or
(2) a modification under section 30-4518 of a provision granting a person the right to remove or replace the fiduciary.
Source
Laws 2020, LB808, § 19.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4510 - Formalities.

30-4510.
Formalities.
An exercise of the decanting power must be made in a record signed by an authorized fiduciary. The signed record must, directly or by reference to the notice required by section 30-4507, identify the first trust and the second trust or trusts and state the property of the first trust being distributed to each second trust and the property, if any, that remains in the first trust.
Source
Laws 2020, LB808, § 20.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4512 - Decanting power under limited distributive discretion.

30-4512.
Decanting power under limited distributive discretion.
(a) In this section, limited distributive discretion means a discretionary power of distribution that is limited to an ascertainable standard or a reasonably definite standard.
(b) An authorized fiduciary that has limited distributive discretion over the principal of the first trust for benefit of one or more current beneficiaries may exercise the decanting power over the principal of the first trust.
(c) Under this section and subject to section 30-4514, a second trust may be created or administered under the law of any jurisdiction. Under this section, the second trusts, in the aggregate, must grant each beneficiary of the first trust beneficial interests which are substantially similar to the beneficial interests of the beneficiary in the first trust.
(d) A power to make a distribution under a second trust for the benefit of a beneficiary who is an individual is substantially similar to a power under the first trust to make a distribution directly to the beneficiary. A distribution is for the benefit of a beneficiary if:
(1) the distribution is applied for the benefit of the beneficiary;
(2) the beneficiary is under a legal disability or the trustee reasonably believes the beneficiary is incapacitated, and the distribution is made as permitted under the Nebraska Uniform Trust Code; or
(3) the distribution is made as permitted under the terms of the first-trust instrument and the second-trust instrument for the benefit of the beneficiary.
(e) If an authorized fiduciary has limited distributive discretion over part but not all of the principal of a first trust, the fiduciary may exercise the decanting power under this section over that part of the principal over which the authorized fiduciary has limited distributive discretion.
Source
Laws 2020, LB808, § 22.
Cross References
Nebraska Uniform Trust Code, see section 30-3801.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4514 - Protection of charitable interest.

30-4514.
Protection of charitable interest.
(a) In this section:
(1) Determinable charitable interest means a charitable interest that is a right to a mandatory distribution currently, periodically, on the occurrence of a specified event, or after the passage of a specified time and which is unconditional or will be held solely for charitable purposes.
(2) Unconditional means not subject to the occurrence of a specified event that is not certain to occur, other than a requirement in a trust instrument that a charitable organization be in existence or qualify under a particular provision of the Internal Revenue Code of 1986, as amended, on the date of the distribution, if the charitable organization meets the requirement on the date of determination.
(b) If a first trust contains a determinable charitable interest, the Attorney General has the rights of a qualified beneficiary and may represent and bind the charitable interest.
(c) If a first trust contains a charitable interest, the second trust or trusts may not:
(1) diminish the charitable interest;
(2) diminish the interest of an identified charitable organization that holds the charitable interest;
(3) alter any charitable purpose stated in the first-trust instrument; or
(4) alter any condition or restriction related to the charitable interest.
(d) If there are two or more second trusts, the second trusts shall be treated as one trust for purposes of determining whether the exercise of the decanting power diminishes the charitable interest or diminishes the interest of an identified charitable organization for purposes of subsection (c) of this section.
(e) If a first trust contains a determinable charitable interest, the second trust or trusts that include a charitable interest pursuant to subsection (c) of this section must be administered under the law of this state unless:
(1) the Attorney General, after receiving notice under section 30-4507, fails to object in a signed record delivered to the authorized fiduciary within the notice period;
(2) the Attorney General consents in a signed record to the second trust or trusts being administered under the law of another jurisdiction; or
(3) the court approves the exercise of the decanting power.
(f) The Uniform Trust Decanting Act does not limit the powers and duties of the Attorney General under law of this state other than the act.
Source
Laws 2020, LB808, § 24.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4515 - Trust limitation on decanting.

30-4515.
Trust limitation on decanting.
(a) An authorized fiduciary may not exercise the decanting power to the extent the first-trust instrument expressly prohibits exercise of:
(1) the decanting power; or
(2) a power granted by state law to the fiduciary to distribute part or all of the principal of the trust to another trust or to modify the trust.
(b) Exercise of the decanting power is subject to any restriction in the first-trust instrument that expressly applies to exercise of:
(1) the decanting power; or
(2) a power granted by state law to a fiduciary to distribute part or all of the principal of the trust to another trust or to modify the trust.
(c)(1) An authorized fiduciary who is a current beneficiary of the first trust or a beneficiary to which the net income or principal of the first trust would be distributed if the first trust were terminated may not exercise the decanting power under the Uniform Trust Decanting Act in a manner to eliminate or restrict a spendthrift clause or a clause restraining the voluntary or involuntary transfer of a beneficiary's interest in the first trust.
(2) Subject to subdivision (c)(1) of this section, a general prohibition of the amendment or revocation of a first trust, a spendthrift clause, or a clause restraining the voluntary or involuntary transfer of a beneficiary's interest does not preclude exercise of the decanting power.
(d) Subject to subsections (a) and (b) of this section, an authorized fiduciary may exercise the decanting power under the Uniform Trust Decanting Act even if the first-trust instrument permits the authorized fiduciary or another person to modify the first-trust instrument or to distribute part or all of the principal of the first trust to another trust.
(e) If a first-trust instrument contains an express prohibition described in subsection (a) of this section or an express restriction described in subsection (b) of this section, the provision must be included in the second-trust instrument.
Source
Laws 2020, LB808, § 25.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4516 - Change in compensation.

30-4516.
Change in compensation.
(a) If a first-trust instrument specifies an authorized fiduciary's compensation, the fiduciary may not exercise the decanting power to increase the fiduciary's compensation above the specified compensation unless:
(1) all qualified beneficiaries of the second trust consent to the increase in a signed record; or
(2) the increase is approved by the court.
(b) If a first-trust instrument does not specify an authorized fiduciary's compensation, the fiduciary may not exercise the decanting power to increase the fiduciary's compensation above the compensation permitted by the Nebraska Uniform Trust Code unless:
(1) all qualified beneficiaries of the second trust consent to the increase in a signed record; or
(2) the increase is approved by the court.
(c) A change in an authorized fiduciary's compensation which is incidental to other changes made by the exercise of the decanting power is not an increase in the fiduciary's compensation for purposes of subsections (a) and (b) of this section.
Source
Laws 2020, LB808, § 26.
Cross References
Nebraska Uniform Trust Code, see section 30-3801.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4517 - Relief from liability and indemnification.

30-4517.
Relief from liability and indemnification.
(a) Except as otherwise provided in this section, a second-trust instrument may not relieve an authorized fiduciary from liability for breach of trust to a greater extent than the first-trust instrument.
(b) A second-trust instrument may provide for indemnification of an authorized fiduciary of the first trust or another person acting in a fiduciary capacity under the first trust for any liability or claim that would have been payable from the first trust if the decanting power had not been exercised.
(c) A second-trust instrument may not reduce fiduciary liability in the aggregate.
(d) Subject to subsection (c) of this section, a second-trust instrument may divide and reallocate fiduciary powers among fiduciaries, including one or more trustees, distribution advisors, investment advisors, trust protectors, or other persons, and relieve a fiduciary from liability for an act or failure to act of another fiduciary as permitted by law of this state other than the Uniform Trust Decanting Act.
Source
Laws 2020, LB808, § 27.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4518 - Removal or replacement of authorized fiduciary.

30-4518.
Removal or replacement of authorized fiduciary.
An authorized fiduciary may not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless:
(1) the person holding the power consents to the modification in a signed record and the modification applies only to the person;
(2) the person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or
(3) the court approves the modification and the modification grants a substantially similar power to another person.
Source
Laws 2020, LB808, § 28.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4520 - Duration of second trust.

30-4520.
Duration of second trust.
(a) Subject to subsection (b) of this section, a second trust may have a duration that is the same as or different from the duration of the first trust.
(b) To the extent that property of a second trust is attributable to property of the first trust, the property of the second trust is subject to any rules governing maximum perpetuity, accumulation, or suspension of the power of alienation which apply to property of the first trust.
Source
Laws 2020, LB808, § 30.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4521 - Need to distribute not required.

30-4521.
Need to distribute not required.
An authorized fiduciary may exercise the decanting power whether or not under the first trust's discretionary distribution standard the fiduciary would have made or could have been compelled to make a discretionary distribution of principal at the time of the exercise.
Source
Laws 2020, LB808, § 31.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4522 - Saving provision.

30-4522.
Saving provision.
(a) If exercise of the decanting power would be effective under the Uniform Trust Decanting Act except that the second-trust instrument in part does not comply with the act, the exercise of the power is effective and the following rules apply with respect to the principal of the second trust attributable to the exercise of the power:
(1) A provision in the second-trust instrument which is not permitted under the act is void to the extent necessary to comply with the act.
(2) A provision required by the act to be in the second-trust instrument which is not contained in the instrument is deemed to be included in the instrument to the extent necessary to comply with the act.
(b) If a trustee or other fiduciary of a second trust determines that subsection (a) of this section applies to a prior exercise of the decanting power, the fiduciary shall take corrective action consistent with the fiduciary's duties.
Source
Laws 2020, LB808, § 32.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4523 - Trust for care of animal.

30-4523.
Trust for care of animal.
(a) In this section:
(1) Animal trust means a trust or an interest in a trust created to provide for the care of one or more animals.
(2) Protector means a person appointed in an animal trust to enforce the trust on behalf of the animal or, if no such person is appointed in the trust, a person appointed by the court for that purpose.
(b) The decanting power may be exercised over an animal trust that has a protector to the extent the trust could be decanted under the Uniform Trust Decanting Act if each animal that benefits from the trust were an individual, if the protector consents in a signed record to the exercise of the power.
(c) A protector for an animal has the rights under the act of a qualified beneficiary.
(d) Notwithstanding any other provision of the act, if a first trust is an animal trust, in an exercise of the decanting power, the second trust must provide that trust property may be applied only to its intended purpose for the period the first trust benefited the animal.
Source
Laws 2020, LB808, § 33.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4524 - Terms of second trust.

30-4524.
Terms of second trust.
A reference in the Nebraska Uniform Trust Code to a trust instrument or terms of the trust includes a second-trust instrument and the terms of the second trust.
Source
Laws 2020, LB808, § 34.
Cross References
Nebraska Uniform Trust Code, see section 30-3801.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4525 - Settlor.

30-4525.
Settlor.
(a) For purposes of law of this state other than the Uniform Trust Decanting Act and subject to subsection (b) of this section, a settlor of a first trust is deemed to be the settlor of the second trust with respect to the portion of the principal of the first trust subject to the exercise of the decanting power.
(b) In determining settlor intent with respect to a second trust, the intent of a settlor of the first trust, a settlor of the second trust, and the authorized fiduciary may be considered.
Source
Laws 2020, LB808, § 35.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4526 - Later-discovered property.

30-4526.
Later-discovered property.
(a) Except as otherwise provided in subsection (c) of this section, if exercise of the decanting power was intended to distribute all the principal of the first trust to one or more second trusts, later-discovered property belonging to the first trust and property paid to or acquired by the first trust after the exercise of the power is part of the trust estate of the second trust or trusts.
(b) Except as otherwise provided in subsection (c) of this section, if exercise of the decanting power was intended to distribute less than all the principal of the first trust to one or more second trusts, later-discovered property belonging to the first trust or property paid to or acquired by the first trust after exercise of the power remains part of the trust estate of the first trust.
(c) An authorized fiduciary may provide in an exercise of the decanting power or by the terms of a second trust for disposition of later-discovered property belonging to the first trust or property paid to or acquired by the first trust after exercise of the power.
Source
Laws 2020, LB808, § 36.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4527 - Obligations.

30-4527.
Obligations.
A debt, liability, or other obligation enforceable against property of a first trust is enforceable to the same extent against the property when held by the second trust after exercise of the decanting power.
Source
Laws 2020, LB808, § 37.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4528 - Uniformity of application and construction.

30-4528.
Uniformity of application and construction.
In applying and construing the Uniform Trust Decanting Act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
Source
Laws 2020, LB808, § 38.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4529 - Relation to federal Electronic Signatures in Global and National Commerce Act.

30-4529.
Relation to federal Electronic Signatures in Global and National Commerce Act.
The Uniform Trust Decanting Act modifies, limits, or supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 et seq., but does not modify, limit, or supersede section 101(c) of that act, 15 U.S.C. 7001(c), or authorize electronic delivery of any of the notices described in section 103(b) of that act, 15 U.S.C. 7003(b), as such sections existed on November 14, 2020.
Source
Laws 2020, LB808, § 39.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4603 - Governing law.

30-4603.
Governing law.
Unless the terms of the instrument creating a power of appointment manifest a contrary intent:
(1) the creation, revocation, or amendment of the power is governed by the law of the donor's domicile at the relevant time; and
(2) the exercise, release, renunciation, or disclaimer of the power, or the revocation or amendment of the exercise, release, renunciation, or disclaimer of the power, is governed by the law of the powerholder's domicile at the relevant time.
Source
Laws 2021, LB501, § 26.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4604 - Common law and principles of equity.

30-4604.
Common law and principles of equity.
The common law and principles of equity supplement the Uniform Powers of Appointment Act except to the extent modified by the Uniform Powers of Appointment Act or law of this state other than the Uniform Powers of Appointment Act.
Source
Laws 2021, LB501, § 27.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4605 - Creation of power of appointment.

30-4605.
Creation of power of appointment.
(a) A power of appointment is created only if:
(1) the instrument creating the power:
(A) is valid under applicable law; and
(B) except as otherwise provided in subsection (b) of this section, transfers the appointive property; and
(2) the terms of the instrument creating the power manifest the donor's intent to create in a powerholder a power of appointment over the appointive property exercisable in favor of a permissible appointee.
(b) Subdivision (a)(1)(B) of this section does not apply to the creation of a power of appointment by the exercise of a power of appointment.
(c) A power of appointment may not be created in a deceased individual.
(d) Subject to an applicable rule against perpetuities, a power of appointment may be created in an unborn or unascertained powerholder.
Source
Laws 2021, LB501, § 28.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4606 - Nontransferability.

30-4606.
Nontransferability.
A powerholder may not transfer a power of appointment. If a powerholder dies without exercising or releasing a power, the power lapses.
Source
Laws 2021, LB501, § 29.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4607 - Presumption of unlimited authority.

30-4607.
Presumption of unlimited authority.
Subject to section 30-4609, and unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is:
(1) presently exercisable;
(2) exclusionary; and
(3) except as otherwise provided in section 30-4609, general.
Source
Laws 2021, LB501, § 30.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4608 - Exception to presumption of unlimited authority.

30-4608.
Exception to presumption of unlimited authority.
Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the power is nongeneral if:
(1) the power is exercisable only at the powerholder's death; and
(2) the permissible appointees of the power are a defined and limited class that does not include the powerholder's estate, the powerholder's creditors, or the creditors of the powerholder's estate.
Source
Laws 2021, LB501, § 31.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4609 - Rules of classification.

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, § 32.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4610 - Power to revoke or amend.

30-4610.
Power to revoke or amend.
A donor may revoke or amend a power of appointment only to the extent that:
(1) the instrument creating the power is revocable by the donor; or
(2) the donor reserves a power of revocation or amendment in the instrument creating the power of appointment.
Source
Laws 2021, LB501, § 33.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4611 - Requisites for exercise of power of appointment.

30-4611.
Requisites for exercise of power of appointment.
A power of appointment is exercised only:
(1) if the instrument exercising the power is valid under applicable law;
(2) if the terms of the instrument exercising the power:
(A) manifest the powerholder's intent to exercise the power; and
(B) subject to section 30-4614, satisfy the requirements of exercise, if any, imposed by the donor; and
(3) to the extent the appointment is a permissible exercise of the power.
Source
Laws 2021, LB501, § 34.
2023 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, § 35.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4613 - Intent to exercise: After-acquired power.

30-4613.
Intent to exercise: After-acquired power.
Unless the terms of the instrument exercising a power of appointment manifest a contrary intent:
(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.
Source
Laws 2021, LB501, § 36.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4614 - Substantial compliance with donor-imposed formal requirement.

30-4614.
Substantial compliance with donor-imposed formal requirement.
A powerholder's substantial compliance with a formal requirement of appointment imposed by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if:
(1) the powerholder knows of and intends to exercise the power; and
(2) the powerholder's manner of attempted exercise of the power does not impair a material purpose of the donor in imposing the requirement.
Source
Laws 2021, LB501, § 37.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4615 - Permissible appointment.

30-4615.
Permissible appointment.
(a) A powerholder of a general power of appointment that permits appointment to the powerholder or the powerholder's estate may make any appointment, including an appointment in trust or creating a new power of appointment, that the powerholder could make in disposing of the powerholder's own property.
(b) A powerholder of a general power of appointment that permits appointment only to the creditors of the powerholder or of the powerholder's estate may appoint only to those creditors.
(c) Unless the terms of the instrument creating a power of appointment manifest a contrary intent, the powerholder of a nongeneral power may:
(1) make an appointment in any form, including an appointment in trust, in favor of a permissible appointee;
(2) create a general power in a permissible appointee;
(3) create a nongeneral power in any person to appoint to one or more of the permissible appointees of the original nongeneral power; or
(4) create a nongeneral power in a permissible appointee to appoint to one or more persons if the permissible appointees of the new nongeneral power include the permissible appointees of the original nongeneral power.
Source
Laws 2021, LB501, § 38.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4616 - Appointment to deceased appointee or permissible appointee's descendant.

30-4616.
Appointment to deceased appointee or permissible appointee's descendant.
(a) Subject to section 30-2343, an appointment to a deceased appointee is ineffective.
(b) Unless the terms of the instrument creating a power of appointment manifest a contrary intent, a powerholder of a nongeneral power may exercise the power in favor of, or create a new power of appointment in, a descendant of a deceased permissible appointee whether or not the descendant is described by the donor as a permissible appointee.
Source
Laws 2021, LB501, § 39.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4617 - Impermissible appointment.

30-4617.
Impermissible appointment.
(a) Except as otherwise provided in section 30-4616, an exercise of a power of appointment in favor of an impermissible appointee is ineffective.
(b) An exercise of a power of appointment in favor of a permissible appointee is ineffective to the extent the appointment is a fraud on the power.
Source
Laws 2021, LB501, § 40.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4618 - Selective allocation doctrine.

30-4618.
Selective allocation doctrine.
If a powerholder exercises a power of appointment in a disposition that also disposes of property the powerholder owns, the owned property and the appointive property must be allocated in the permissible manner that best carries out the powerholder's intent.
Source
Laws 2021, LB501, § 41.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4619 - Capture doctrine: Disposition of ineffectively appointed property under general power.

30-4619.
Capture doctrine: Disposition of ineffectively appointed property under general power.
To the extent a powerholder of a general power of appointment, other than a power to withdraw property from, revoke, or amend a trust, makes an ineffective appointment:
(1) the gift in default clause controls the disposition of the ineffectively appointed property; or
(2) if there is no gift in default clause or to the extent the clause is ineffective, the ineffectively appointed property:
(A) passes to:
(i) the powerholder if the powerholder is a permissible appointee and living; or
(ii) if the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or
(B) if there is no taker under subdivision (A) of this subdivision, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.
Source
Laws 2021, LB501, § 42.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4620 - Disposition of unappointed property under released or unexercised general power.

30-4620.
Disposition of unappointed property under released or unexercised general power.
To the extent a powerholder releases or fails to exercise a general power of appointment other than a power to withdraw property from, revoke, or amend a trust:
(1) the gift in default clause controls the disposition of the unappointed property; or
(2) if there is no gift in default clause or to the extent the clause is ineffective:
(A) except as otherwise provided in subdivision (B) of this subdivision, the unappointed property passes to:
(i) the powerholder if the powerholder is a permissible appointee and living; or
(ii) if the powerholder is an impermissible appointee or deceased, the powerholder's estate if the estate is a permissible appointee; or
(B) to the extent the powerholder released the power, or if there is no taker under subdivision (A) of this subdivision, the unappointed property passes under a reversionary interest to the donor or the donor's transferee or successor in interest.
Source
Laws 2021, LB501, § 43.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4621 - Disposition of unappointed property under released or unexercised nongeneral power.

30-4621.
Disposition of unappointed property under released or unexercised nongeneral power.
To the extent a powerholder releases, ineffectively exercises, or fails to exercise a nongeneral power of appointment:
(1) the gift in default clause controls the disposition of the unappointed property; or
(2) if there is no gift in default clause or to the extent the clause is ineffective, the unappointed property:
(A) passes to the permissible appointees if:
(i) the permissible appointees are defined and limited; and
(ii) the terms of the instrument creating the power do not manifest a contrary intent; or
(B) if there is no taker under subdivision (A) of this subdivision, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.
Source
Laws 2021, LB501, § 44.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4622 - Disposition of unappointed property if partial appointment to taker in default.

30-4622.
Disposition of unappointed property if partial appointment to taker in default.
Unless the terms of the instrument creating or exercising a power of appointment manifest a contrary intent, if the powerholder makes a valid partial appointment to a taker in default of appointment, the taker in default of appointment may share fully in unappointed property.
Source
Laws 2021, LB501, § 45.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4623 - Appointment to taker in default.

30-4623.
Appointment to taker in default.
If a powerholder makes an appointment to a taker in default of appointment and the appointee would have taken the property under a gift in default clause had the property not been appointed, the power of appointment is deemed not to have been exercised and the appointee takes under the clause.
Source
Laws 2021, LB501, § 46.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4624 - Powerholder's authority to revoke or amend exercise.

30-4624.
Powerholder's authority to revoke or amend exercise.
A powerholder may revoke or amend an exercise of a power of appointment only to the extent that:
(1) the powerholder reserves a power of revocation or amendment in the instrument exercising the power of appointment and, if the power is nongeneral, the terms of the instrument creating the power of appointment do not prohibit the reservation; or
(2) the terms of the instrument creating the power of appointment provide that the exercise is revocable or amendable.
Source
Laws 2021, LB501, § 47.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4625 - Disclaimer.

30-4625.
Disclaimer.
As provided by section 30-2352:
(1) A powerholder may renounce all or part of a power of appointment.
(2) A permissible appointee, appointee, or taker in default of appointment may renounce all or part of an interest in appointive property.
Source
Laws 2021, LB501, § 48.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4626 - Authority to release.

30-4626.
Authority to release.
A powerholder may release a power of appointment, in whole or in part, except to the extent the terms of the instrument creating the power prevent the release.
Source
Laws 2021, LB501, § 49.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4627 - Method of release.

30-4627.
Method of release.
A powerholder of a releasable power of appointment may release the power in whole or in part:
(1) by substantial compliance with a method provided in the terms of the instrument creating the power; or
(2) if the terms of the instrument creating the power do not provide a method or the method provided in the terms of the instrument is not expressly made exclusive, by a record manifesting the powerholder's intent by clear and convincing evidence.
Source
Laws 2021, LB501, § 50.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4628 - Revocation or amendment of release.

30-4628.
Revocation or amendment of release.
A powerholder may revoke or amend a release of a power of appointment only to the extent that:
(1) the instrument of release is revocable by the powerholder; or
(2) the powerholder reserves a power of revocation or amendment in the instrument of release.
Source
Laws 2021, LB501, § 51.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4629 - Power to contract: Presently exercisable power of appointment.

30-4629.
Power to contract: Presently exercisable power of appointment.
A powerholder of a presently exercisable power of appointment may contract:
(1) not to exercise the power; or
(2) to exercise the power if the contract when made does not confer a benefit on an impermissible appointee.
Source
Laws 2021, LB501, § 52.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4630 - Power to contract: Power of appointment not presently exercisable.

30-4630.
Power to contract: Power of appointment not presently exercisable.
A powerholder of a power of appointment that is not presently exercisable may contract to exercise or not to exercise the power only if the powerholder:
(1) is also the donor of the power; and
(2) has reserved the power in a revocable trust.
Source
Laws 2021, LB501, § 53.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4631 - Remedy for breach of contract to appoint or not to appoint.

30-4631.
Remedy for breach of contract to appoint or not to appoint.
The remedy for a powerholder's breach of a contract to appoint or not to appoint appointive property is limited to damages payable out of the appointive property or, if appropriate, specific performance of the contract.
Source
Laws 2021, LB501, § 54.
2023 Nebraska Revised Statutes › Chapter 30 - Decedents' Estates; Protection of Persons and Property › 30-4632 - Creditor claim: General power created by powerholder.

30-4632.
Creditor claim: General power created by powerholder.
(a) In this section, power of appointment created by the powerholder includes a power of appointment created in a transfer by another person to the extent the powerholder contributed value to the transfer.
(b) Appointive property subject to a general power of appointment created by the powerholder is subject to a claim of a creditor of the powerholder or of the powerholder's estate to the extent provided in the Uniform Voidable Transactions Act.
(c) Subject to subsection (b) of this section, appointive property subject to a general power of appointment created by the powerholder is not subject to a claim of a creditor of the powerholder or the powerholder's estate to the extent the powerholder irrevocably appointed the property in favor of a person other than the powerholder or the powerholder's estate.
(d) Subject to subsections (b) and (c) of this section, and notwithstanding the presence of a spendthrift provision or whether the claim arose before or after the creation of the power of appointment, appointive property subject to a general power of appointment created by the powerholder is subject to a claim of a creditor of:
(1) the powerholder, to the same extent as if the powerholder owned the appointive property, if the power is presently exercisable; and
(2) the powerholder's estate, to the extent the estate is insufficient to satisfy the claim and subject to the right of a decedent to direct the source from which liabilities are paid, if the power is exercisable at the powerholder's death.
Source
Laws 2021, LB501, § 55.
Cross References
Uniform Voidable Transactions Act, see section 36-801.