30-2342.02 Terms relating to federal estate and generation-skipping transfer taxes; how construed. - Nebraska Statutes

30-2342.02. Terms relating to federal estateand generation-skipping transfer taxes; how construed.(1) A will or trust of a decedent whodies after December 31, 2009, and before January 1, 2011, that contains aformula referring to the "unified credit", "estate tax exemption", "applicableexemption amount", "applicable credit amount", "applicable exclusion amount","generation-skipping transfer tax exemption", "GST exemption", "marital deduction","maximum marital deduction", or "unlimited marital deduction", or that measuresa share of an estate or trust based on the amount that can pass free of federalestate tax or the amount that can pass free of federal generation-skippingtransfer tax, or that is otherwise based on a similar provision of federalestate or generation-skipping transfer tax law, shall be deemed to refer tothe federal estate and generation-skipping transfer tax laws as they appliedwith respect to estates of decedents dying on December 31, 2009.(2) This section doesnot apply:(a)If the decedent dies on a date on which there is a then-applicable federalestate or generation-skipping transfer tax; or(b) With respect to a will or trustthat is executed or amended after December 31, 2009, or that manifests anintent that a contrary rule apply if the decedent dies on a date on whichthere is no then-applicable federal estate or generation-skipping transfertax.(3)The personal representative or any affected beneficiary under the will ortrust may bring a proceeding to determine whether the decedent intended thatthe references under subsection (1) of this section be construed with respectto the law as it existed after December 31, 2009. Such a proceeding shallbe commenced within twelve months after the death of the decedent. SourceLaws 2010, LB1047, § 1.Effective Date: April 13, 2010