30-4612. Intent to exercise: Determining intent from residuary clause.
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/ne/chapter-30/30-4612A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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.