Beneficiaries of revocable and irrevocable trusts who are over 65 and meet the income test can qualify for a property tax exemption on their homesteads. This year the exempt amount is $159,840.
The trust (revocable or irrevocable) must have at least one of three terms:
A specific right of the beneficiary to occupy the premises;
The right to amend or revoke the trust; or
The power to withdraw the homestead premises from the trust and place the record title in the occupant's name.
The applicant must apply for the homestead exemption between February 1 and June 30 of each year.
There is a sliding scale on the exempt amount ...
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The Happily Married Couple QDRO
When people hear QDRO they think of divorce. But to the surprise of many there is no statutory requirement that a married couple divorce each other in order to transfer ERISA plan assets (usually a 401(k)) from one spouse to the other. The words "divorce" and "separation" do not even appear in ERISA.
I am one of the few attorneys in the country and the only one in Nebraska who can work this legal magic. And magic it can be as one married couple in the South was able to protect over $23,000 per year from the nursing home.
I spent over 100 hours researching and writing to adapt the In-Marriage QDRO to Nebraska law after I learned of it in ...
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The Failed Four Million Dollar Handwritten Will
On May 22, 2014, Brian L. Tiedeman of Lancaster county met with his lawyer on trust administration matters. Tiedeman wanted to change or make a new will. His lawyer told him to make another appointment on the will matter. As a stop-gap measure and in the presence of his lawyer, he wrote:
"5-22-14
I Brian L Tiedeman want all my
All Property to Dustin Lovorn
I here by attend to change my will.
[Signature]"
There was no other appointment with his lawyer and Tiedeman passed away on February 24, 2015.
Lovorn sought to probate the handwritten will. Both the district court and the Nebraska Supreme Court held the document was not a valid ...
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