Current as of November 2026. General information, not legal or tax advice.
Nebraska adopted the Uniform Trust Code in 2003 (LB 130), with its sixty-day notice provisions applying from January 1, 2006. The statute follows the uniform text closely. What makes Nebraska worth a separate look is the Nebraska Supreme Court's reading of the duty to inform: an annual report does not satisfy it when trust assets are in danger.
Who must provide an accounting in Nebraska
Section 30-3878 (UTC 813) requires the trustee to keep the qualified beneficiaries reasonably informed about the administration and the material facts they need to protect their interests, and to respond promptly to a beneficiary's request for information unless that would be unreasonable. On request, the trustee furnishes a copy of the trust instrument.
Within sixty days after accepting a trusteeship, the trustee notifies the qualified beneficiaries of the acceptance and of the trustee's name, address and telephone number. Within sixty days after learning that an irrevocable trust has been created, or that a revocable trust has become irrevocable, the trustee tells them of the trust's existence, the settlor's identity, their right to request a copy of the trust instrument, and their right to a trustee's report. The trustee also gives advance notice of any change in compensation. While a trust is revocable, the trustee's duties run to the settlor.
The report goes at least annually and at termination to the distributees or permissible distributees of income or principal, and to any other beneficiary who requests it. A beneficiary may waive reports and later withdraw the waiver.
In Rafert v. Meyer (2015), the Nebraska Supreme Court held that a reasonable trustee acting in good faith would not wait for the annual report to tell beneficiaries that trust assets were in danger of being lost, but would inform them immediately so they could protect their interests.
What a Nebraska trust accounting must contain
The report covers the trust property, liabilities, receipts and disbursements, including the source and amount of the trustee's compensation, and a listing of the trust assets with market values if feasible. On a vacancy with no cotrustee remaining, the former trustee sends the report.
When a Nebraska accounting is contested
Section 30-3894 (UTC 1005) bars a proceeding for breach of trust more than one year after the beneficiary was sent a report that adequately disclosed the potential claim and told the beneficiary how long they had to bring it. A report discloses adequately if it gives enough information that the beneficiary knows of the claim or should have inquired into it. Otherwise, the outer limit is four years from the first of the trustee's removal, resignation or death, the end of the beneficiary's interest, or the end of the trust.
How T.E.A. Fiduciary helps
We prepare Nebraska annual and termination reports under section 30-3878, with the disclosure and deadline notice that start the section 30-3894 one-year period. We work alongside your attorney and your tax preparer; we do not prepare tax returns.
This page provides general information about Nebraska fiduciary accounting requirements and is not legal or tax advice. Statutes and court rules change. Verify the current text before relying on any of it, and consult counsel on questions of legal interpretation.
More: the uniform framework · all state pages · our services
Primary source: Nebraska Revised Statutes Chapter 30 (Nebraska Uniform Trust Code), Nebraska Legislature.
Written by Christina Gutman, C.P.A. — Founder and Principal of T.E.A. Fiduciary. Christina is licensed as a Certified Public Accountant by the State of California and has specialized exclusively in fiduciary accounting for over a decade, preparing trust, estate, and conservatorship accountings for law firms, professional fiduciaries, trust companies, family offices, and individual trustees nationwide. She has also served as a forensic consultant in contested accounting matters. More about Christina
