Nebraska Statutes 43-2706. Transfer authorized by will or trust
(1) A personal representative or trustee may make an irrevocable transfer pursuant to section 43-2710 to a custodian for the benefit of a minor as authorized in the governing will or trust.
Terms Used In Nebraska Statutes 43-2706
- Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
- Testator: A male person who leaves a will at death.
- Trustee: A person or institution holding and administering property in trust.
(2) If the testator or settlor has nominated a custodian under section 43-2704 to receive the custodial property, the transfer must be made to that person.
(3) If the testator or settlor has not nominated a custodian under section 43-2704, or all persons so nominated as custodian die before the transfer or are unable, decline, or are ineligible to serve, the personal representative or the trustee, as the case may be, shall designate the custodian from among those eligible to serve as custodian for property of that kind under subsection (1) of section 43-2710.
Source
- Laws 1992, LB 907, § 6.