NRS 162B.305: Intent to exercise: Determining intent from residuary clause.

1. A residuary clause in a powerholder’s will or a comparable clause in the powerholder’s revocable trust, manifests the powerholder’s intent to exercise a power of appointment only if:

(a) The terms of the instrument containing the residuary clause do not manifest a contrary intent;

(b) The power is a general power exercisable in favor of the powerholder’s estate;

(c) There is no gift-in-default clause or the clause is ineffective; and

(d) The powerholder did not release the power.

2. As used in this section:

(a) “Residuary clause” does not include a residuary clause containing a blanket-exercise clause or a specific-exercise clause.

(b) “Will” includes a codicil and a testamentary instrument that revises another will.