Nebraska Revised Statute 77-2008.03
Inheritance tax; power of appointment; method and manner of taxing.
Whenever any person or corporation shall be given a power of appointment over any property by a transfer which is subject to the provisions of sections 77-2001 to 77-2008.02, whether such power is created before or after June 13, 1955, such power of appointment shall be deemed a transfer of the interest in the property which is subject to such power from the donor to the donee of such power at the date of the donor's death; Provided, if at the date of the donor's death, the power of appointment is limited, in whole or in part, to be exercised in favor of one or more specific beneficiaries or classes of beneficiaries, then, to the extent it is so limited, such power of appointment shall not be deemed a transfer from the donor to the donee of the power, but shall be deemed a transfer of the interest in the property which is subject to the power from the donor of the power to the specific beneficiary or class of beneficiaries, as of the date of the donor's death.
- Laws 1955, c. 301, § 1, p. 939.
In the special case of a general power of appointment where the donor and donee are also husband and wife, such transfer is not subject to inheritance tax. In re Estate of Nelson, 253 Neb. 414, 571 N.W.2d 269 (1997).
Payments made after death of a life tenant on contract for sale of real estate under power granted her under husband's will are not part of her estate. McDonald v. Shaughnessy, 194 Neb. 221, 231 N.W.2d 332 (1975).