Intent to exercise: After-acquired power.

1. Law
2. Nevada Revised Statutes
3. Powers of Appointment (Uniform Act)
4. 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 subsection 2, 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.

(Added to NRS by 2017, 1375)

Download our app to see the most-to-date content.