Probate law in Nebraska governs how a deceased person’s estate is handled. The statutes ensure that all eligible creditors get paid as well as the beneficiaries. In cases where there is no will, Nebraska’s intestate laws will govern. Intestate laws are necessary because many people fail to leave a will. Probate wills provide very important information about who will act as the executor or the administrator of the estate. They also provide instructions about who is to receive what.
A valid will provides all of the above information. It will be name an administrator or personal representative and also give instruction about how to divvy up the property. State laws ensure that the wishes of the decedent are followed. However, it must be noted that just because there is valid will, this doesn't mean that there won't be any problems. Family members and loved ones can contest the will if they believe that the deceased was not in their right mind when they wrote it or if they feel like they were pressured to write or make changes to it. This can cause the probate process to last much longer then normal.
When a probate case is delayed, it will take longer for creditors and beneficiaries to get paid. While creditors will have to simply wait it out, beneficiaries can take out an inheritance advance. There are lenders whose specialty is working with individuals who are waiting for their inheritance but who have not received it, in many cases because the case is stuck in probate. These companies will lend beneficiaries money and then are paid back when the inheritance is finally doled out. Inheritance loans are available for different amounts. The beneficiary can take out a loan equal to or less then their expected inheritance amount. These types of probate loans allow heirs to get their hands on money right away. The lending process typically takes between three and seven days. If you were to compare this to the months and years that probate can take, you can see why these loans are a very attractive option. Beneficiaries are able to place money into their bank accounts a lot faster than if they were to wait on the probate process to run it’s course.
The probate process while simple in its’ intent can often be difficult for the average person. It is best to have a Nebraska probate attorney who is familiar with the process and the laws. He or she will be able to help you get through the process much faster and will decrease the amount of delays that are due to simply not knowing what you are doing.
Nebraska Probate Guidelines
In Nebraska there are 12 judicial districts and 93 county courts. Each court has jurisdiction over probate cases. Typically, the probate case will take place in the county where the decedent last lived. In Nebraska, the duties of the executor (administrator) are to open the estate, figure out if the estate will be able to pass through probate, the transference of all necessary assets. They must also notify creditors, other individuals that may have an interest in the estate and heirs with inheritance rights. Their duties also include validating the will, appointing guardians and trustees when necessary, paying off the decedent’s debts, filing and paying for state and inheritance taxes. The administrator must also distribute money, property and other assets to the heirs’ family and loved ones.
Probate Resources- Nebraska
Inheritance Taxes- Nebraska
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