§ 30-2342.02 — Terms relating to federal estate and generation-skipping transfer taxes; how construed

Nebraska § 30-2342.02

• Jurisdiction: Nebraska
• Ch. 30: Decedents' Estates; Protection of Persons and Property

Text

(1) A will or trust of a decedent who
dies after December 31, 2009, and before January 1, 2011, that contains a
formula referring to the "unified credit", "estate tax exemption", "applicable
exemption amount", "applicable credit amount", "applicable exclusion amount",
"generation-skipping transfer tax exemption", "GST exemption", "marital deduction",
"maximum marital deduction", or "unlimited marital deduction", or that measures
a share of an estate or trust based on the amount that can pass free of federal
estate tax or the amount that can pass free of federal generation-skipping
transfer tax, or that is otherwise based on a similar provision of federal
estate or generation-skipping transfer tax law, shall be deemed to refer to
the federal estate and generation-skipping transfer tax laws as they applied
with respect to estates of decedents dying on December 31, 2009.
(2) This section does
not apply:
(a)
If the decedent dies on a date on which there is a then-applicable federal
estate or generation-skipping transfer tax; or
(b) With respect to a will or trust
that is executed or amended after December 31, 2009, or that manifests an
intent that a contrary rule apply if the decedent dies on a date on which
there is no then-applicable federal estate or generation-skipping transfer
tax.
(3)
The personal representative or any affected beneficiary under the will or
trust may bring a proceeding to determine whether the decedent intended that
the references under subsection (1) of this section be construed with respect
to the law as it existed after December 31, 2009. Such a proceeding shall
be commenced within twelve months after the death of the decedent.

Legislative History

Source: Laws 2010, LB1047, § 1.