Nevada Revised Statutes 163.4157 – ‘Power of appointment’ defined
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‘Power of appointment’ means an inter vivos or testamentary power to direct the disposition of trust property, other than a distribution decision by a trustee to a beneficiary.
Terms Used In Nevada Revised Statutes 163.4157
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Inter vivos: Transfer of property from one living person to another living person.
- Trustee: A person or institution holding and administering property in trust.