NRS 162B.340
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:

(1)

The powerholder if the powerholder is a permissible appointee and living; or

(2)

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 paragraph (a), passes under a reversionary interest to the donor or the donor’s transferee or successor in interest.

Source: Section 162B.340 — Capture doctrine: Disposition of ineffectively appointed property under general power., https://www.­leg.­state.­nv.­us/NRS/NRS-162B.­html#NRS162BSec340.

Last Updated

Jun. 24, 2021

§ 162B.340’s source at nv​.us