Nebraska § 30-3506 Transfer to custodial trustee by fiduciary or obligor; facility of payment

Nebraska Statutes

§ 30-3506 — Transfer to custodial trustee by fiduciary or obligor; facility of payment

Nebraska·Ch. 30 Decedents' Estates; Protection of Persons and Property

(a)Unless otherwise directed by an instrument designating a custodial trustee pursuant to section 30-3504 , a person, including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a conservator may make a transfer to an adult member of the beneficiary's family or to a trust company as custodial trustee for the use and benefit of the incapacitated individual. If the value of the property or the debt exceeds ten thousand dollars, the transfer is not effective unless authorized by the court.

(b)A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section.

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(a) Unless otherwise directed by an instrument designating a custodial trustee pursuant to section 30-3504 , a person, including a fiduciary other than a custodial trustee, who holds property of or owes a debt to an incapacitated individual not having a conservator may make a transfer to an adult member of the beneficiary's family or to a trust company as custodial trustee for the use and benefit of the incapacitated individual. If the value of the property or the debt exceeds ten thousand dollars, the transfer is not effective unless authorized by the court.
(b) A written acknowledgment of delivery, signed by a custodial trustee, is a sufficient receipt and discharge for property transferred to the custodial trustee pursuant to this section.

Nebraska § 30-3506 (Transfer to custodial trustee by fiduciary or obligor; facility of payment) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.