Property Ownership
In Nebraska, a property held in a revocable living trust is:
AAutomatically exempt from property taxes
BStill owned by the grantor for practical and tax purposes — the grantor retains control and can change or revoke the trust✓ Correct
CIrrevocably transferred to the beneficiaries
DSubject to probate in the same manner as property owned outright
Explanation
A revocable living trust does not transfer beneficial ownership — the grantor retains control, can revoke or modify it, and the property is still treated as the grantor's for income tax and (often) property tax purposes. It avoids probate at death.
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