76-1512 Family trust, defined. - Nebraska Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter76 > 76-1512

76-1512. Family trust, defined.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. SourceLaws 1981, LB 9, § 6.

State Codes and Statutes

Statutes > Nebraska > Chapter76 > 76-1512

76-1512. Family trust, defined.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. SourceLaws 1981, LB 9, § 6.

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > Nebraska > Chapter76 > 76-1512

76-1512. Family trust, defined.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. SourceLaws 1981, LB 9, § 6.