Chapter 30 — DECEDENTS' ESTATES; PROTECTION OF PERSONS AND PROPERTY
1,179 sections in this chapter.
Neb. Rev. Stat. § 30-2902 Terms, defined; Revisor of Statutes; duties.
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Whenever in the statutes of Nebraska, unless the context otherwise requires: (1) The term incompetent person or words of similar import occur they shall be taken to mean and apply to incapacitated person or incompetent person as used in this code; and (2) The term guardian shall …
Neb. Rev. Stat. § 30-3001 Decedent's estate; all or any part to state; notice to Attorney General.
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Whenever, upon the filing of a petition for probate or administration or thereafter in the administration of any estate, it shall appear that all or any part of the estate is bequeathed or devised or will escheat to the State of Nebraska, the county judge shall, before the appoin…
Transferred to section 30-402.
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[Repealed or reserved.]
Transferred to section 30-403.
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[Repealed or reserved.]
Transferred to section 30-404.
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[Repealed or reserved.]
Transferred to section 30-406.
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[Repealed or reserved.]
Repealed. Laws 1974, LB 354, § 316.
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[Repealed or reserved.]
Repealed. Laws 1974, LB 354, § 316.
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[Repealed or reserved.]
Repealed. Laws 1974, LB 354, § 316.
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[Repealed or reserved.]
Repealed. Laws 1974, LB 354, § 316.
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[Repealed or reserved.]
Repealed. Laws 1974, LB 354, § 316.
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[Repealed or reserved.]
Repealed. Laws 1974, LB 354, § 316.
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[Repealed or reserved.]
Repealed. Laws 1974, LB 354, § 316.
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[Repealed or reserved.]
Repealed. Laws 1974, LB 354, § 316.
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[Repealed or reserved.]
Repealed. Laws 1974, LB 354, § 316.
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[Repealed or reserved.]
Repealed. Laws 1974, LB 354, § 316.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Repealed. Laws 1974, LB 354, § 316.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Repealed. Laws 2001, LB 56, § 38.
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[Repealed or reserved.]
Neb. Rev. Stat. § 30-3116 Act, how cited.
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Sections 30-3116 to 30-3149 shall be known and may be cited as the Uniform Principal and Income Act.
Neb. Rev. Stat. § 30-3117 Definitions.
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For purposes of the Uniform Principal and Income Act: (1) Accounting period means a calendar year unless another twelve-month period is selected by a fiduciary. The term includes a portion of a calendar year or other twelve-month period that begins when an income interest begins …
Neb. Rev. Stat. § 30-3118 Fiduciary duties; general principles.
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(a) In allocating receipts and disbursements to or between principal and income, and with respect to any matter within the scope of sections 30-3122 to 30-3126, a fiduciary: (1) shall administer a trust or estate in accordance with the terms of the trust or the will, even if ther…
Neb. Rev. Stat. § 30-3119 Trustee's power to adjust.
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(a) A trustee may adjust between principal and income to the extent the trustee considers necessary if the trustee invests and manages trust assets as a prudent investor, the terms of the trust describe the amount that may or must be distributed to a beneficiary by referring to t…
Neb. Rev. Stat. § 30-3119.01 Conversion to total return trust.
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(1) Unless expressly prohibited by a trust, a trustee may release the power to adjust described in section 30-3119 and convert a trust to a total return trust as described in this section if all of the following apply: (a) The trustee determines that the conversion will enable th…
Repealed. Laws 1974, LB 354, § 316.
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[Repealed or reserved.]
Neb. Rev. Stat. § 30-3120 Judicial control of discretionary powers.
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(a) A court shall not change a fiduciary's decision to exercise or not to exercise a discretionary power conferred by the Uniform Principal and Income Act unless it determines that the decision was an abuse of the fiduciary's discretion. A court shall not determine that a fiducia…
Neb. Rev. Stat. § 30-3121 Proposed action; notice; objections.
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(a) A trustee may give a notice of proposed action regarding a matter governed by the Uniform Principal and Income Act as provided in this section. For purposes of this section, a proposed action includes a course of action and a decision not to take action. (b) The trustee shall…
Neb. Rev. Stat. § 30-3122 Determination and distribution of net income.
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After a decedent dies, in the case of an estate, or after an income interest in a trust ends, the following rules apply: (1) A fiduciary of an estate or of a terminating income interest shall determine the amount of net income and net principal receipts received from property spe…
Neb. Rev. Stat. § 30-3123 Distribution to residuary and remainder beneficiaries.
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(a) Each beneficiary described in subdivision (4) of section 30-3122 is entitled to receive a portion of the net income equal to the beneficiary's fractional interest in undistributed principal assets, using values as of the distribution date. If a fiduciary makes more than one d…
Neb. Rev. Stat. § 30-3124 When right to income begins and ends.
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(a) An income beneficiary is entitled to net income from the date on which the income interest begins. An income interest begins on the date specified in the terms of the trust or, if no date is specified, on the date an asset becomes subject to a trust or successive income inter…
Neb. Rev. Stat. § 30-3125 Apportionment of receipts and disbursements when decedent dies or income interest begins.
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(a) A trustee shall allocate an income receipt or disbursement other than one to which subdivision (1) of section 30-3122 applies to principal if its due date occurs before a decedent dies in the case of an estate or before an income interest begins in the case of a trust or succ…
Neb. Rev. Stat. § 30-3126 Apportionment when income interest ends.
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(a) In this section, undistributed income means net income received before the date on which an income interest ends. The term does not include an item of income or expense that is due or accrued or net income that has been added or is required to be added to principal under the …
Neb. Rev. Stat. § 30-3127 Character of receipts.
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(a) In this section, entity means a corporation, partnership, limited liability company, regulated investment company, real estate investment trust, common trust fund, or any other organization in which a trustee has an interest other than a trust or estate to which section 30-31…
Neb. Rev. Stat. § 30-3128 Distribution from trust or estate.
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A trustee shall allocate to income an amount received as a distribution of income from a trust or an estate in which the trust has an interest other than a purchased interest, and shall allocate to principal an amount received as a distribution of principal from such a trust or e…
Neb. Rev. Stat. § 30-3129 Business and other activities conducted by trustee.
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(a) If a trustee who conducts a business or other activity determines that it is in the best interest of all the beneficiaries to account separately for the business or activity instead of accounting for it as part of the trust's general accounting records, the trustee may mainta…
Repealed. Laws 1974, LB 354, § 316.
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[Repealed or reserved.]
Neb. Rev. Stat. § 30-3130 Principal receipts.
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A trustee shall allocate to principal: (1) to the extent not allocated to income under the Uniform Principal and Income Act, assets received from a transferor during the transferor's lifetime, a decedent's estate, a trust with a terminating income interest, or a payer under a con…