NE LB1160

Increases homestead allowance for surviving spouses from $20,000 to $25,000 and exempt property allowance from $12,500 to $17,500 for decedents dying on or after January 1, 2027

Allows decedents to expressly exclude or limit individuals from intestate succession through their will, with excluded shares passing as if those individuals had disclaimed their inheritance

Establishes requirements for contracts to make or not revoke a trust, requiring provisions in a will/trust, express reference with extrinsic evidence, or a signed writing; joint trust execution does not create presumption of irrevocability contract

Makes trust contest penalty provisions (no-contest clauses) unenforceable if probable cause exists for instituting proceedings

Expands inheritance tax exemptions at the 1% rate to include lineal descendants of persons who stood in acknowledged parental relation to the deceased for 10+ years, and allows certification of trust to establish homestead ownership for property tax exemption purposes