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. (Added to NRS by 2017, 1375)