Nevada Revised Statutes 153.130 – Effect of power of appointment
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Except as otherwise provided in a will establishing a testamentary trust, a person holding a power of appointment pursuant to a testamentary trust does not owe a fiduciary duty to any person and is not liable to any person with respect to the exercise or nonexercise of the power of appointment.
Terms Used In Nevada Revised Statutes 153.130
- Fiduciary: A trustee, executor, or administrator.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039