30-2715. Nonprobate transfers on death.

307 words·~1 min read·/ne/chapter-30/30-2715

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Subject to sections 30-2333 and 30-2354 , a provision for a nonprobate transfer on death in an insurance or annuity policy, account with POD designation as defined in section 30-2716 , contract of employment, bond, mortgage, promissory note, certificated or uncertificated security, security registered in beneficiary form, account agreement, custodial agreement, deposit agreement, compensation plan, pension plan, profit-sharing plan, individual retirement plan, employee benefit plan, trust, marital property agreement, certificate of title, or other written instrument of a similar nature is nontestamentary. This subsection includes a written provision that:

(1)money or other benefits due to, controlled by, or owned by a decedent before death must be paid after the decedent's death to a person whom the decedent designates either in the instrument or in a separate writing, including a will, executed either before or at the same time as the instrument, or later;

(2)money due or to become due under the instrument ceases to be payable in the event of death of the promisee or the promisor before payment or demand; or

(3)any property controlled by or owned by the decedent before death which is the subject of the instrument passes to a person the decedent designates either in the instrument or in a separate writing, including a will, executed either before or at the same time as the instrument, or later.

(b)This section does not limit rights of creditors under other laws of this state.

All personal accounts in Nebraska are subject to sections 30-2715 through 30-2746, concerning nonprobate transfer of accounts. Krzycki v. Krzycki, 284 Neb. 729, 824 N.W.2d 659 (2012).

If an instrument executed by the parties is intended by them as security for a debt, whatever may be its form or name, it is in equity a mortgage. Clark v. Clark, 275 Neb. 276, 746 N.W.2d 132 (2008).