NRS 162B.085: “Presently exercisable power of appointment” defined.

“Presently exercisable power of appointment” means a power of appointment exercisable by the powerholder at the relevant time. The term:

1. Includes a power of appointment not exercisable until the occurrence of a specified event, the satisfaction of an ascertainable standard or the passage of a specified time only after:

(a) The occurrence of the specified event;

(b) The satisfaction of the ascertainable standard; or

(c) The passage of the specified time; and

2. Does not include a power exercisable only at the powerholder’s death.