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NRS 162B.345 - Disposition of unappointed property under released or unexercised general power.

NV Rev Stat § 162B.345 (2019) (N/A)
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To the extent a powerholder releases or fails to exercise a general power of appointment other than a power to withdraw property from, revoke or amend a trust:

1. The gift-in-default clause controls the disposition of the unappointed property; or

2. If there is no gift-in-default clause or to the extent the clause is ineffective:

(a) Except as otherwise provided in paragraph (b), the unappointed property 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) To the extent the powerholder released the power, or if there is no taker under paragraph (a), the unappointed property passes under a reversionary interest to the donor or the donor’s transferee or successor in interest.

(Added to NRS by 2017, 1376)

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NRS 162B.340 - Capture doctrine: Disposition of ineffectively appointed property under general power.
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NRS 162B.350 - Disposition of unappointed property under released or unexercised nongeneral power.