Nebraska § 76-1512 Family trust, defined

Nebraska Statutes

§ 76-1512 — Family trust, defined

Nebraska § 76-1512

Ch. 76Real Property

This text of Nebraska § 76-1512 (Family trust, defined) 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. § 76-1512 (2026).

Text

Family trust shall mean a trust:

(1)In which a majority interest in the trust is held by and the majority of the beneficiaries are persons related to each other as spouse, parent, grandparent, lineal descendants of grandparents or their spouses and other legal descendants of the grandparents or their spouses, or persons acting in a fiduciary capacity for persons so related; and

(2)In which all the beneficiaries are natural persons, who are not acting as a trustee or in a similar capacity for a trust, as defined in section 76-1511 , or persons acting in a fiduciary capacity, or nonprofit corporation.

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Family trust shall mean a trust:
(1) In which a majority interest in the trust is held by and the majority of the beneficiaries are persons related to each other as spouse, parent, grandparent, lineal descendants of grandparents or their spouses and other legal descendants of the grandparents or their spouses, or persons acting in a fiduciary capacity for persons so related; and
(2) In which all the beneficiaries are natural persons, who are not acting as a trustee or in a similar capacity for a trust, as defined in section 76-1511 , or persons acting in a fiduciary capacity, or nonprofit corporation.