Annual Trustee's Report (Nebraska Uniform Trust Code § 30-3878(c))

ANNUAL TRUSTEE'S REPORT

Pursuant to Nebraska Uniform Trust Code, Neb. Rev. Stat. § 30-3878(c)

I. TRUST IDENTIFICATION

II. TRUSTEE IDENTIFICATION

III. RECIPIENTS OF THIS REPORT (§ 30-3878(c))

☐ A copy of this Report has also been served on the Nebraska Attorney General, Charitable Trusts Section, because this Trust is a charitable trust subject to § 30-3810.

IV. SUMMARY OF ACCOUNT

V. SCHEDULE OF RECEIPTS (§ 30-3878(c))

A. Income Receipts

B. Principal Receipts

VI. SCHEDULE OF DISBURSEMENTS (§ 30-3878(c))

A. Ordinary Administration Expenses

B. Distributions to Beneficiaries

C. Taxes

VII. STARTING STATEMENT OF ASSETS (As of [__/__/____])

VIII. ENDING LISTING OF TRUST ASSETS WITH MARKET VALUES (§ 30-3878(c)) (As of [__/__/____])

IX. STATEMENT OF LIABILITIES (§ 30-3878(c))

☐ The Trust has no outstanding liabilities as of the end of the accounting period.

X. TRUSTEE COMPENSATION, AGENTS, AND RELATED PARTIES

A. Source and Amount of Trustee's Compensation (§ 30-3878(c))

B. Agents Hired by Trustee

C. Related-Party Transactions (§ 30-3867)

☐ The Trustee did not engage in any transactions during the accounting period with the Trustee personally, with any entity in which the Trustee holds a beneficial interest, or with any agent related to the Trustee, other than as fully disclosed above.

☐ The following related-party transactions occurred during the accounting period and are fully disclosed for the beneficiaries' review:

[____________________________________________________________]

[____________________________________________________________]

XI. STATUTORY LIMITATION NOTICE — ONE-YEAR PERIOD (§ 30-3894)

NOTICE OF LIMITATION OF ACTION PURSUANT TO NEB. REV. STAT. § 30-3894:

You may not commence a proceeding against the Trustee for breach of trust more than ONE YEAR after the date this report is sent to you, if this report adequately discloses the existence of a potential claim for breach of trust. A report adequately discloses the existence of a potential claim if it provides sufficient information so that you or your representative knows of the potential claim or should have inquired into its existence. If the one-year limitation does not apply, a judicial proceeding for breach of trust must be commenced within FOUR YEARS after the first to occur of (1) the removal, resignation, or death of the Trustee, (2) the termination of your interest in the Trust, or (3) the termination of the Trust.

XII. NOTICE OF RIGHT TO PETITION THE NEBRASKA COUNTY COURT (§ 30-3812)

You are hereby notified that, as a recipient of this report, you may invoke the jurisdiction of the County Court of the county that is the principal place of administration of the Trust (identified in Section I above) pursuant to Neb. Rev. Stat. § 30-3812 to obtain a judicial review of this report and of the acts of the Trustee. Available proceedings include, without limitation:

• A petition to compel a report or accounting by the trustee;
• A petition for judicial settlement of the report;
• A petition for instructions to the trustee regarding administration;
• A petition for declaration of rights with respect to the trust;
• A petition to surcharge the trustee for breach of trust;
• A petition for removal of the trustee under § 30-3862; and
• Any other matter involving the trust's administration.

The Trust is not subject to continuing judicial supervision unless ordered by the Court (§ 30-3812(b)). A petition is filed in the County Court of [____________________] County, Nebraska. Where authorized by law, the District Court may exercise concurrent jurisdiction for certain matters.

XIII. BENEFICIARY OBJECTION MECHANISM

A beneficiary who has questions or objections to any item in this Report is encouraged (but not required) to contact the Trustee in writing within [____] days of receipt at the address in Section II. This informal step does not extend, shorten, or substitute for the statutory limitations periods stated in Section XI. Unresolved objections may be presented to the County Court of [____________________] County, Nebraska, by petition under § 30-3812.

Trustee Contact for Objections / Inquiries:

XIV. OPTIONAL — BENEFICIARY RECEIPT AND RELEASE (§ 30-3898)

The undersigned Beneficiary acknowledges receipt of the foregoing Annual Trustee's Report for the period [__/__/____] to [__/__/____], confirms that the Beneficiary has had a reasonable opportunity to review the Report (and to consult independent counsel if desired), and pursuant to Neb. Rev. Stat. § 30-3898:

(a) ☐ Approves the acts of the Trustee as set forth in this Report;

(b) ☐ Releases the Trustee from liability for any matter adequately disclosed by this Report; and

(c) ☐ Ratifies the transactions reflected in this Report.

This Receipt and Release is given freely, after a reasonable opportunity to investigate and inquire, and not in reliance upon any representation of the Trustee other than the contents of this Report.

Beneficiary Signature: [________________________________]

Print Name: [________________________________]

Date: [__/__/____]

XV. TRUSTEE VERIFICATION AND SIGNATURE

I, the undersigned Trustee, declare under penalty of perjury under the laws of the State of Nebraska:

1. I have reviewed the foregoing Annual Trustee's Report and each schedule attached;
2. The information set forth is true, correct, and complete to the best of my knowledge, based on the books, records, and supporting documentation of the Trust;
3. All material trust property, liabilities, receipts, disbursements, the source and amount of the trustee's compensation, a listing of trust assets and (if feasible) their respective market values, agents hired (including any related-party agents), and related-party transactions for the accounting period stated above are disclosed in compliance with Neb. Rev. Stat. § 30-3878(c); and
4. This Report is furnished pursuant to the Nebraska Uniform Trust Code, Neb. Rev. Stat. § 30-3801 et seq.

Executed on [__/__/____] at [____________________], Nebraska.

Trustee Signature: [________________________________]

Print Name: [________________________________]

Capacity: [________________________________]

XVI. PROOF OF SERVICE

I, the undersigned, declare that I am over the age of 18 years and not a party to this matter. My business or residence address is set forth below. On [__/__/____], I served the foregoing ANNUAL TRUSTEE'S REPORT on each recipient identified in Section III by placing a true copy in a sealed envelope addressed to each such recipient at the address set forth in Section III, with postage thereon fully prepaid, and depositing the envelope in the United States Mail at [____________________], Nebraska, OR by personal delivery as indicated.

I declare under penalty of perjury under the laws of the State of Nebraska that the foregoing is true and correct.

Date: [__/__/____]

Method: ☐ Certified Mail, Return Receipt Requested ☐ First-Class Mail ☐ Personal Delivery ☐ Other: [____________________]

Signature: [________________________________]

Print Name: [________________________________]

Address: [________________________________]

SOURCES AND REFERENCES

• Neb. Rev. Stat. § 30-3801 et seq. (Nebraska Uniform Trust Code) — https://nebraskalegislature.gov/laws/laws-index/chap30-full.html
• Neb. Rev. Stat. § 30-3805 (Mandatory Provisions) — https://nebraskalegislature.gov/laws/statutes.php?statute=30-3805
• Neb. Rev. Stat. § 30-3812 (Role of County Court) — https://nebraskalegislature.gov/laws/statutes.php?statute=30-3812
• Neb. Rev. Stat. § 30-3866 (Duty to Administer Trust) — https://nebraskalegislature.gov/laws/statutes.php?statute=30-3866
• Neb. Rev. Stat. § 30-3867 (Duty of Loyalty) — https://nebraskalegislature.gov/laws/statutes.php?statute=30-3867
• Neb. Rev. Stat. § 30-3878 (Duty to Inform and Report) — https://nebraskalegislature.gov/laws/statutes.php?statute=30-3878
• Neb. Rev. Stat. § 30-3894 (Limitation of Action Against Trustee) — https://nebraskalegislature.gov/laws/statutes.php?statute=30-3894
• Neb. Rev. Stat. § 30-3897 (Exculpation of Trustee) — https://nebraskalegislature.gov/laws/statutes.php?statute=30-3897
• Neb. Rev. Stat. § 30-3898 (Beneficiary's Consent, Release, or Ratification) — https://nebraskalegislature.gov/laws/statutes.php?statute=30-3898
• Nebraska Uniform Principal and Income Act — Neb. Rev. Stat. §§ 30-3116 et seq.