William and Meredith Zutavern had four children: Shawn, Shayne, Kelly and Maria. They owned 22,000 acres of Sandhills real estate where they had a cattle ranch.
William created a revocable trust in 2008. He died in 2011. Meredith was the successor trustee. At the time of William's death, two trusts were created. One trust (the Family Trust) would be funded in the maximum tax free amount under the federal estate tax. The other trust was solely for the benefit of his wife and was her property absolutely. The Family Trust would pay Meredith income for her life.
Although not exactly clear from the opinion, the real estate and cattle were ...
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When does a charity cease to exist? Charitable gifts in wills.
Hamilton County, Nebraska operated a nursing home facility in Aurora. This is common throughout Nebraska. The name of the facility was Hamilton Manor.
Nelda Ackerson was a lifelong resident of Hamilton County. She was grateful for the services she and her sister received at Hamilton Manor so she left it $875,000 in her will. She died in June 2017.
Hamilton Manor experienced financial difficulties and the County ended up lending it $925,500. A for-profit operator was brought in to manage the nursing home. Eventually, the for-profit company built a new nursing home and the County closed the old building in April 2018.
Mrs. Ackerson's ...
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The Largest Judgment in Nebraska History: The Streck case
The number is $723 million dollars. Of that, $467 million for 52% of the company and $256 million in prejudgment interest. It involved the valuation of the private (and "S" corporation) Streck, Inc. Streck was founded in 1971 by Dr. Wayne L. Ryan. Dr. Ryan earned two degrees from Creighton University. He was a brilliant scientist and pioneer in the hematology field. He built a business that had sales of $102 million in 2014, adjusted EBITDA of $54 million and a gross profit of 77%. These are outstanding numbers.
Every lawsuit has a legal and personal aspect to it. In this case, the personal aspect is way more interesting than the legal ...
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