{"data":{"id":"us-ne/neb.-rev.-stat.-30-4305","jurisdiction":"us-ne","citation":"Neb. Rev. Stat. § 30-4305","heading":"Neb. Rev. Stat. § 30-4305","body":"(UDTA 5) (a) In this section, power of appointment means a power that enables a person acting in a nonfiduciary capacity to designate a recipient of an ownership interest in or another power of appointment over trust property.\n\n(b) The Nebraska Uniform Directed Trust Act does not apply to a:\n\n(1) power of appointment;\n\n(2) power to appoint or remove a trustee or trust director;\n\n(3) power of a settlor over a trust to the extent the settlor has a power to revoke the trust;\n\n(4) power of a beneficiary over a trust to the extent the exercise or nonexercise of the power affects the beneficial interest of:\n\n(A) the beneficiary; or\n\n(B) the beneficial interest of another beneficiary represented by the beneficiary under sections 30-3822 to 30-3826 with respect to the exercise or nonexercise of the power;\n\n(5) power over a trust if:\n\n(A) the terms of the trust provide that the power is held in a nonfiduciary capacity; and\n\n(B) the power must be held in a nonfiduciary capacity to achieve the settlor's tax objectives under the Internal Revenue Code of 1986 as defined in section 49-801.01 ; or\n\n(6) power over a trust if:\n\n(A) the terms of the trust provide that the power is held in a nonfiduciary capacity; and\n\n(B) the power must be held in a nonfiduciary capacity to correct a mistake of the scrivener in order to conform the terms of the trust with the intention of a settlor. The correction must not reform the trust in any material respect.\n\n(c) Unless the terms of a trust provide otherwise, a power granted to a person to designate a recipient of an ownership interest in or power of appointment over trust property which is exercisable while the person is not serving as a trustee is a power of appointment and not a power of direction.","path":["NE Code","Chapter 30"],"source_url":"https://nebraskalegislature.gov/laws/statutes.php?statute=30-4305","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:21Z","sha256":"2e09b2fa2ed34e1c440dd75a1598cb876af817772f150ff99ba8d71c25123c1f","source_id":"us-ne","stale":false,"prev":"us-ne/neb.-rev.-stat.-30-4304","next":"us-ne/neb.-rev.-stat.-30-4306"},"notice":"GroundRules: Original legal text. Not legal advice."}