Wills and Estates 

Nebraska Statutes > Chapter 30 > § 30-3124 - When right to income begins and ends

(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 interest.

(b) An asset becomes subject to a trust:

(1) on the date it is transferred to the trust in the case of an asset that is transferred to a trust during the transferor's life;

(2) on the date of a testator's death in the case of an asset that becomes subject to a trust by reason of a will, even if there is an intervening period of administration of the testator's estate; or

(3) on the date of an individual's death in the case of an asset that is transferred to a fiduciary by a third party because of the individual's death.

(c) An asset becomes subject to a successive income interest on the day after the preceding income interest ends, as determined under subsection (d) of this section, even if there is an intervening period of administration to wind up the preceding income interest.

(d) An income interest ends on the day before an income beneficiary dies or another terminating event occurs, or on the last day of a period during which there is no beneficiary to whom a trustee may distribute income.

Laws 2001, LB 56, § 9.

Previous section	Chapter 30 Table of Contents	Next section

________________________________________________________________________

Questions & Answers: Wills and Estates

can a vacant sc lot held tenancy in common be probated in maryland...

Mary, Oregon law does not require that wills be notarized. They only need to be witnessed by two persons. That being said, if a will is notarized, it can be easier for those requi...

Antoinette, Witnesses to a will can be family members, but the witnesses must be disinterested. That means they cannot receive anything under the will. You can read more about thi...

Sharon, It sound like the "updated" will is almost certainly invalid since the formal requirements for the updating of a will are the same as for making a will. It sounds like some...

I wanted to know im so behind on my bills and my son15 recieved a check, I was wondering couldbi cash it or do I have to bank it.my name is on checkbas trustees of minor...

In Kansas, is it necessary to leave a child $1.00 if you are not including them in your will as a heir?...

Comments (0)