Section 30-4619 - Capture doctrine: Disposition of ineffectively appointed property under general powerTo 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: (i) the powerholder if the powerholder is a permissible appointee and living; or(ii) 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 subdivision (A) of this subdivision, passes under a reversionary interest to the donor or the donor's transferee or successor in interest.Neb. Rev. Stat. §§ 30-4619
Laws 2021, LB 501,§ 42, eff. 8/28/2021.