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David Valente Published in ABA eReport

July 31, 2019 - By: David Valente

TBHR’s David Valente authored an article entitled “A Proper Lesson on an Improper Exercise of a Power of Appointment” for the American Bar Association eReport. The article dissected a recent decision by the Nebraska Supreme Court on the validity of a purported exercise of a non-general testamentary power of appointment in favor of the powerholder’s own trust. In ultimately finding the exercise to be ineffective, the Court’s holding serves as a cautionary tale to trustees who are required to act on such exercises and reiterates the importance of careful draftsmanship.