NRS 162B.305
Intent to exercise: Determining intent from residuary clause.

1.

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:

(a)

The terms of the instrument containing the residuary clause do not manifest a contrary intent;

(b)

The power is a general power exercisable in favor of the powerholder’s estate;

(c)

There is no gift-in-default clause or the clause is ineffective; and

(d)

The powerholder did not release the power.

2.

As used in this section:

(a)

“Residuary clause” does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause.

(b)

“Will” includes a codicil and a testamentary instrument that revises another will.

Source: Section 162B.305 — Intent to exercise: Determining intent from residuary clause., https://www.­leg.­state.­nv.­us/NRS/NRS-162B.­html#NRS162BSec305.

Last Updated

Jun. 24, 2021

§ 162B.305’s source at nv​.us