202402376 - Laserfiche WebLink

Browse

202402376 Primary Beneficiary We designate the following beneficiary of this revocable transfer on death deed if the beneficiary survives both of us. Name of Primary Beneficiary KAREN HANCOCK Mailing Address of Primary Beneficiary 2309 SHERIDAN AVE. GRAND ISLAND, NE 68803 Transfer on Death At the death of the survivor of us, we transfer our interest in the described property to the beneficiaries as designated above. The transfer occurs at the death of the survivor of the Transferors. Survivorship Required Under Nebraska law, the interest of a designated beneficiary is contingent on the designated beneficiary surviving the survivor of the transferors by one hundred twenty hours. This TOD Deed is Revocable Before our death, we (or the survivor of us) have the right to revoke this deed. Growing Crops If this land is agricultural land the growing crops shall pass to: Our primary or alternate beneficiary Our estate We understand that if we make no choice growing crops pass to the estate of the survivor of us. Legally Required Warnings in the TOD Deed: Please pay close attention to the following warnings. Please pay close attention to the following warnings. Warning: The property transferred remains subject to inheritance taxation in Nebraska to the same extent as if owned by the transferor at death. Failure to timely pay inheritance taxes is subject to interest and penalties as provided by law. Warning: The designated beneficiary is personally liable, to the extent of the value of the property transferred, to account for Medicaid reimbursement to the extent necessary to discharge any such claim remaining after application of the assets of the last surviving transferor's estate. The designated beneficiary may also be personally liable, to the extent of the value of the property transferred, for claims against the estate, statutory allowances to the last - surviving transferor's surviving spouse and children, and the expenses of administration to the extent needed to pay such amounts by the personal representative. Warning: Transfer on Death Deed - Page No. 2