Chapter 18. Estate Planning. Learning Objectives. Identify the ways that your estate can be transferred through contracts and a will. Determine how trusts can be used to transfer assets and reduce estate taxes. Summarize the benefits of preparing advance directive documents .
Nebraska Inheritance Tax Exemptions
In the state of Nebraska exemption from inheritance tax is provided in the following cases: If the deceased was a resident of Nebraska, then his or her spouse is eligible to receive a household allowance of $7,500 per month. If the deceased has no spouse, then his or her minor children would receive a household allowance of $7,500 per month. This money would, however, be divided amongst the minor children of the deceased.
People experience challenges with investing in estate planning when they do the following: