Nebraska Revised Statute 30-2724

Chapter 30 Section 2724

30-2724.

Alteration of rights.

(a) Rights at death under section 30-2723 are determined by the type of account at the death of a party. The type of account may be altered by written notice given by a party to the financial institution to change the type of account or to stop or vary payment under the terms of the account. The notice must be signed by a party and received by the financial institution during the party's lifetime.

(b) A right of survivorship arising from the express terms of the account, section 30-2723, or a POD designation, may not be altered by will.

Source

  • Laws 1993, LB 250, § 10.

Annotations

  • The use of the word "may" in subsection (a) of this section grants a party the right to alter the type of account the party owns, but a party must give his or her financial institution signed written notice to exercise that right. Newman v. Thomas, 264 Neb. 801, 652 N.W.2d 565 (2002).

  • Under the current version of article 27 of the Nebraska Probate Code, signed written notice is required for transforming a non-pay-on-death, single-party account into a multiparty or pay-on-death account. Newman v. Thomas, 264 Neb. 801, 652 N.W.2d 565 (2002).