Estate planning rules in Nebraska
Key takeaway
Nebraska estate planning rules cover will execution, intestate succession, powers of attorney, guardianship, an inheritance tax and a small estate affidavit. A will generally must be written, signed by the testator or at the testator's direction, and witnessed by two people. Nebraska also imposes an inheritance tax that values property at what it would produce in cash at the decedent's death.
Wills
Nebraska's general will execution provision requires a written will, a testator's signature or directed signature, and two witnesses, subject to statutory exceptions.
Nebraska annotations state that witnesses must sign a will before the testator's death for it to be valid. They also state that testamentary capacity is not an element of due execution.
Intestate succession and devolution
Estate property not effectively disposed of by will goes through intestate succession, subject to any modification the will makes.
Property devolves at death to devisees or heirs, subject to allowances, creditors' rights, a surviving spouse's elective share and administration.
Powers of attorney and guardianship
The power of attorney statute requires acknowledgment before a notary or other legally authorized person for the instrument to be valid under the state's Uniform Power of Attorney Act.
Nebraska permits guardianship only on clear and convincing evidence of incapacity and need for a least restrictive alternative. A guardianship must be limited unless a full one is shown necessary.
Inheritance tax valuation
For inheritance tax, clear market value is measured at the grantor's death as fair market value less consideration paid.
Property is valued at the cash amount it would produce if sold at the decedent's death.
Small estate affidavit
A successor may collect estate personal property by affidavit after 30 days if the estate's net personal property value does not exceed $100,000 and the listed conditions are met.
Thresholds and rates change. Check the state's own current figures.