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201501165
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Last modified
4/14/2015 12:12:22 PM
Creation date
2/27/2015 2:05:36 PM
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DEEDS
Inst Number
201501165
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Alternate Beneficiary: <br />If our primary beneficiary does not survive us, we designate the following alternate beneficiary if that <br />alternate beneficiary survives the survivor of us. <br />Name of Alternate Beneficiary: <br />Five Points Bank, Trustee of the <br />Marsh Administration Trust <br />Transfer on Death: <br />At the death of the survivor of us, we transfer our interest in the described property to the beneficiary <br />as designated above. The transfer occurs at the death of the survivor of the Transferors. <br />Survivorship Required: <br />Under Nebraska law, the interest of a designated beneficiary is contingent on the designated <br />beneficiary surviving the survivor of the transferors by one hundred twenty (120) hours. <br />This TOD Deed is Revocable: <br />Before our death, we (or the survivor of us) have the right to revoke this deed. <br />Growing Crops: <br />If this land is agricultural land the growing crops shall pass to: <br />Our primary or alternate beneficiary <br />The estate of the survivor of us <br />Mailing Address of Alternate Beneficiary: <br />2032 Brentwood Blvd. <br />Grand Island, NE 68801 <br />201501.6;; <br />We understand that if we make no choice growing crops pass to the estate of the survivor of us. <br />Legally Required Warning in the TOD Deed: <br />Please pay close attention to the following warnings: <br />Warning: <br />The property transferred remains subject to inheritance taxation in Nebraska to the same <br />extent as if owned by the transferor at death. Failure to timely pay inheritance taxes is subject <br />to interest and penalties as provided by law. <br />Warning: <br />The designated beneficiary is personally liable, to the extent of the value of the property <br />transferred, to account for Medicaid reimbursement to the extent necessary to discharge any <br />such claim remaining after application of the assets of the last surviving transferor's estate. <br />The designated beneficiary may also be personally liable, to the extent of the value of the <br />property transferred, for claims against the estate, statutory allowances to the last surviving <br />transferor's surviving spouse and children, and the expenses of administration to the extent <br />to pay such amounts by the personal representative. <br />Warning: <br />The Department of Health and Human Services may require revocation of this deed by a <br />transferor, a transferor's spouse, or both a transferor and the transferor's spouse in order to <br />qualify or remain qualified for Medicaid assistance. <br />2 <br />
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