“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. (Added to NRS by 2017, 1373)