Create a Living Trust in Nebraska

A Nebraska living trust holds your assets in trust while you have full use and control over them during life and then distributes them after your death. A revocable living trust (also called an inter vivos trust) offers many protections and benefits that may be a good fit as part of your estate planning.

Find out more about Living Trusts

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create a living trust in nebraska

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Updated on: February 6, 2024
Read time: 4 min

A Nebraska living trust holds your assets in trust while you have full use and control over them during life and then distributes them after your death. A revocable living trust (also called an inter vivos trust) offers many protections and benefits that may be a good fit as part of your estate planning.

Living trusts in Nebraska

A living trust in Nebraska allows you as the grantor to place your assets into the ownership of a trust. You select a trustee who manages the assets for your benefit during your lifetime. Most people select themselves as trustee, but you can choose anyone. Once the trust is established, you will like want to move as many of your assets as possible into the trust. There are some assets that cannot be transferred such as retirement accounts. The trust is revocable, meaning it can be changed at any time by you during your lifetime. You can even eliminate it completely. An irrevocable trust is one that cannot be changed once it is created.

You select a successor trustee who will manage the trust after your death. This trustee also has the responsibility of dispersing your assets to your beneficiaries according to the terms you have set in the trust.

One of the benefits of a trust is that it allows you to pass your assets to your beneficiaries without going through the probate process, a court procedure in which a will is approved and acted upon. The probate process takes months and requires the expenses of an executor and attorney, as well as the payment of court fees. Nebraska uses the Uniform Probate Code, so its probate process is considered fairly straightforward. An expedited and inexpensive process is available for estates worth less than $50,000, which may make more sense than a trust for estates of this size, simply based on cost. When you pass your assets with a will, your assets are distributed to your heirs as soon as probate concludes. When you use a trust, your assets can be distributed to your beneficiaries immediately upon your death, whereas with a will nothing can happen until probate concludes. If you own property in more than one state, your living trust allows you to avoid property in all of the states.

Do I need a living trust in Nebraska?

Your Nebraska living trust offers privacy that is not available with a will. A trust is not made public record or taken through a court proceeding like a will and thus the names of your beneficiaries, the assets in the trust, and the provisions of the trust are never revealed publicly. A trust is also much more difficult to contest, so you can have confidence your wishes will be carried out.

Control is another important protection offered when you create a living trust in Nebraska. Although your assets are technically owned by the trust, you continue to use them as you normally would. Nothing in your daily life changes and you remain in control. After your death, the terms you have put in place in the trust continue to control your assets. They are managed by the trustee and distributed at the specific times and dates you select. If you use a will to transfer your assets, they are all transferred when the will is probated. A trust allows you to space out distributions to occur at times you are comfortable with, such as beneficiaries’ birthdays.

A revocable living trust protects you should you become mentally incapacitated. All of your assets are already controlled, owned, and managed by the trust and a conservatorship proceeding is likely unnecessary. Your financial life is protected by the trust.

Living trusts and estate taxes in Nebraska

Living trusts do not exempt your assets from estate taxes, except in special situations. Nebraska does not apply inheritance tax when you leave assets to your spouse. $40,000 is exempt when you leave assets to children or siblings, and $15,000 is exempt for gifts to aunts and uncles or nieces and nephews. All other gifts are exempt when below $10,000. Above these amounts, state inheritance tax applies. Federal estate tax applies to estates worth more than $5 million. A marital trust, also known as a QTIP or AB trust, avoids estate or inheritance tax by transferring assets from the deceased spouse to the surviving spouse. A living trust does not shield assets from Medicaid or creditors.

How to create a living trust in Nebraska

Creating a living trust in Nebraska is a two-step process. First you create and sign the trust document in front of a notary public. You complete the trust by transferring ownership of assets into it. This last step is essential. A living trust may be the answer to many of your estate planning issues. A trust can offer privacy and control that cannot be achieved through other methods.

If you're ready to create a living trust, LegalZoom can help. Start by answering a few simple questions. LegalZoom will review your answers and send your complete living trust package by mail.

Find out more about Living TrustsStart Now
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This article is for informational purposes. This content is not legal advice, it is the expression of the author and has not been evaluated by LegalZoom for accuracy or changes in the law.

51 days ago
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Grateful to Patti Green

Patti Green helped me so much to finish my order. She was very patient and pleasant with me and guided me so well with my living trust. She made it clear and explained things that I could understand to finish this. She is an asset to your company and I would recommend her with excellence

CU
53 days ago
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I had no Idea what to do to update my…

I had no Idea what to do to update my Living Trust. They answered all my questions and they also helped me get info I did not know I needed.

Bryan Q
59 days ago
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Living Trust Premium

Our Representative, Stormy was fantastic! She stayed with us through the whole process. She was very helpful and thorough.

sremeikis
67 days ago
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I spoke to the representative today about a Trust...

I spoke to the representative today regarding a question about an existing Living Trust. She was very helpful - told me exactly what I needed to know and how to accomplish it. As a representative in the Financial field I guide clients all the time on where to get documents done right - and its always LegalZoom - easy and effecient!

Gareth
69 days ago
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LegalZoom

I was impressed by the user-friendly interface and the outstanding support I received while creating a Revocable Living Trust. The ability to connect with support representatives in real time to address my questions was incredibly valuable. For those looking to establish a straightforward trust, I can highly recommend LegalZoom.

TDM
75 days ago
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Rida has been very helpful with respect…

Rida has been very helpful with respect o guiding me through the process of properly revising the Living trust for my elderly parents. His patience has been exemplary.

Frantz Michel
83 days ago
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Elizabeth Tisdale

Elizabeth Tisdale, knowledgeable,been having problems with the forms in my living trust,for the past two weeks and had to pay every time, Elizabeth was patient with me and explained every detail until it was corrected,she get my 5 stars

MARIA CORONA
83 days ago
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Taking the Initiative

Taking the initiative to do the info. research on our living Trust...set up back in 2016..Made the call an efficient, as well as a pleasant experience. Very thorough and friendly. Set up our atty consultation Thanks for great service!

Vicki Switzer
90 days ago
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Carmen was so patient with me

Carmen was so patient with me! Thank you for all your direction and guidance with my living Trust! Great job!

Tina Garcia
93 days ago
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Tammy was wonderful and very…

Tammy was wonderful and very knowledgeable. It's because of her that I am going to open a living trust with legal zoom. She was great. Thank You

Erin
101 days ago
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Pleasant Experience

Patience and weel given explanation about the process of how a "Living Trust" & "Deed" works after transitioning and guidance on how to contact an attorney whenever I need legal advice.

Sharron Martin
101 days ago
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Excellent LegalZoom Attorney

The LegalZoom attorney was extremely helpful in the "walk thru" assistance as I prepared the Living Trust document. The service was excellent.

customer
110 days ago
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Happy with my initial contact with Legal Zoom

Rebecca fully answered my questions about creating a living trust. She is friendly and professional, and with my mind at ease, I am looking forward to starting this process with Legal Zoom. I am confident that this will be the best route for me to take to make things a lot easier for my family when I'm gone. (And, easy for me!) I plan to be in touch in the next several weeks. Thanks, Rebecca!

Carol
128 days ago
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Michelle very professionally guided me…

Michelle very professionally guided me with her knowledge and amazing patience through the entire process of setting up my Living Trust. I am so relieved and grateful for her help. I have used LegalZoom before and you are my go to for legal advice. Thank you again Michelle.

Paula Bateman
136 days ago
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Quality Staff

I needed to revise my entire living trust and had put it off for years. Your staff member Eden walked me through the process with such patience and concern. Had I known it would be so easy, I would have never put it off this long. A testament to you quality staff.

Ady Filipescu
145 days ago
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Really great job in guiding me to…

Really great job in guiding me to finish my living trust .

Ronnie Ball
151 days ago
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5 Stars

5 Stars – Outstanding Customer Service from Tammy at LegalZoom I had the pleasure of working with Tammy from LegalZoom regarding my living trust documents, and I couldn't be more impressed. She was professional, patient, and incredibly knowledgeable. Tammy took the time to walk me through every step, answered all my questions clearly, and made a complex process feel simple and stress-free. Her attention to detail and genuine care made all the difference. LegalZoom is lucky to have someone like her on their team. Thank you, Tammy!

Cn
151 days ago
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Ease and help of making changes to my…

Ease and help of making changes to my living trust. LegalZoom rep walked me through the process without any difficulties. Really like working with LegalZoom.

Gregory Bechtol
158 days ago
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Enjoyed working with Kevin to finalize…

Enjoyed working with Kevin to finalize our Living Trust language. His knowledge on this product certainly increases our confidence in the viability of the final document.

JOHN in CALIFORNIA
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