Nebraska § 30-3507 Multiple beneficiaries; separate custodial trusts; survivorship

Nebraska Statutes

§ 30-3507 — Multiple beneficiaries; separate custodial trusts; survivorship

Nebraska § 30-3507

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

This text of Nebraska § 30-3507 (Multiple beneficiaries; separate custodial trusts; survivorship) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 30-3507 (2026).

Text

(a)Beneficial interests in a custodial trust created for multiple beneficiaries are deemed to be separate custodial trusts of equal undivided interests for each beneficiary. Except in a transfer or declaration for use and benefit of husband and wife, for whom survivorship is presumed, a right of survivorship does not exist unless the instrument creating the custodial trust specifically provides for survivorship.

(b)Custodial trust property held under the Nebraska Uniform Custodial Trust Act by the same custodial trustee for the use and benefit of the same beneficiary may be administered as a single custodial trust.

(c)A custodial trustee of custodial trust property held for more than one beneficiary shall separately account to each beneficiary pursuant to sections 30-3508 and 30-3516

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(a) Beneficial interests in a custodial trust created for multiple beneficiaries are deemed to be separate custodial trusts of equal undivided interests for each beneficiary. Except in a transfer or declaration for use and benefit of husband and wife, for whom survivorship is presumed, a right of survivorship does not exist unless the instrument creating the custodial trust specifically provides for survivorship.
(b) Custodial trust property held under the Nebraska Uniform Custodial Trust Act by the same custodial trustee for the use and benefit of the same beneficiary may be administered as a single custodial trust.
(c) A custodial trustee of custodial trust property held for more than one beneficiary shall separately account to each beneficiary pursuant to sections 30-3508 and 30-3516 for the administration of the custodial trust.