1. A power of appointment is created only if: (a) The instrument creating the power is valid under applicable law; and (b) 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. 2. […]
A powerholder may not transfer a power of appointment. If a powerholder dies without exercising or releasing a power, the power lapses. (Added to NRS by 2017, 1374)
Subject to NRS 162B.240, 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 NRS 162B.230, general. (Added to NRS by 2017, 1374)
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 […]
1. If a powerholder may exercise a power of appointment only with the consent or joinder of an adverse party, the power is nongeneral. 2. If the permissible appointees of a power of appointment are not defined and limited, the power is exclusionary. 3. As used in this section, “adverse party” means a person with […]
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. (Added to NRS by 2017, 1375)
