NE Code § 30-24,104 (2021)
2021 Nebraska Revised Statutes|Chapter 30 - Decedents' Estates; Protection of Persons and Property|30-24,104 - Distribution in kind; valuation; method.

30-24,104.  Distribution in kind; valuation; method.(a) Unless a contrary intention is indicated by the will, the distributable assets of a decedent's estate shall be distributed in kind to the extent possible through application of the following provisions:(1) A specific devisee is entitled to distribution of the thing devised to him, and a spouse or child who has selected particular assets of an estate as provided in section 30-2323 shall receive the items selected.(2) Any homestead or family allowance or devise payable in money may be satisfied by value in kind provided(i) the person entitled to the payment has not demanded payment in cash;(ii) the property distributed in kind is valued at fair market value as of the date of its distribution, and(iii) no residuary devisee has requested that the asset in question remain a part of the residue of the estate.(3) For the purpose of valuation under paragraph (2), securities regularly traded on recognized exchanges, if distributed in kind, are valued at the price for the last sale of like securities traded on the business day prior to distribution or, if there was no sale on that day, at the median between amounts bid and offered at the close of that day. Assets consisting of sums owed the decedent or the estate by solvent debtors as to which there is no known dispute or defense are valued at the sum due with accrued interest or discounted to the date of distribution. For assets which do not have readily ascertainable values, a valuation as of a date not more than thirty days prior to the date of distribution, if otherwise reasonable, controls. For purposes of facilitating distribution, the personal representative may ascertain the value of the assets as of the time of the proposed distribution in any reasonable way, including the employment of qualified appraisers, even if the assets may have been previously appraised.(4) The residuary estate shall be distributed in kind if there is no objection to the proposed distribution and it is practicable to distribute undivided interests. In other cases, residuary property may be converted into cash for distribution.(b) After the probable charges against the estate are known, the personal representative may mail or deliver a proposal for distribution to all persons who have a right to object to the proposed distribution. The right of any distributee to object to the proposed distribution on the basis of the kind or value of asset he is to receive, if not waived earlier in writing, terminates if he fails to object in writing received by the personal representative within thirty days after mailing or delivery of the proposal.Source  Laws 1974, LB 354, § 182, UPC § 3-906.Annotations  The time limitation on objections found in subsection (b) of this section is not limited in its application to distribution under a will. In re Estate of Marsh, 247 Neb. 17, 524 N.W.2d 571 (1994). Once a settlement agreement is entered into, the distribution of the property is pursuant to the agreement and cannot be affected by a section concerning the distribution of property in kind. In re Estate of Marsh, 2 Neb. App. 649, 513 N.W.2d 35 (1994).