Nevada Chapter 163 — Trusts

148 sections hosted, reproduced from the official public-domain source.

NRS 163.001— Definitions
NRS 163.002— Creation: Methods; certain property deemed trust property
NRS 163.003— Creation: Requirements
NRS 163.004— Creation: Terms; revocability; rules of construction
NRS 163.005— Creation: Consideration
NRS 163.006— Creation: Beneficiary
NRS 163.007— Validity of trust providing for one or more successor beneficiaries
NRS 163.008— Validity of trust created in relation to real property; recordation
NRS 163.009— Oral trust of personal property
NRS 163.010— Short title
NRS 163.0011— “Electronic record” defined
NRS 163.0013— “Electronic signature” defined
NRS 163.0015— “Electronic trust” defined
NRS 163.0016— “Nontestamentary trust” defined
NRS 163.0017— “Record” defined
NRS 163.0018— “Testamentary trust” defined
NRS 163.0019— Terms: “Writing” or “written.”
NRS 163.020— Definitions
NRS 163.023— Powers of trustee
NRS 163.025— Combining or dividing certain trusts
NRS 163.026— Giving name to or changing name of certain trusts
NRS 163.027— Distribution of property or money of trust: Powers of trustee; manner; consent of affected beneficiaries required for distribution without proration under certain circumstances
NRS 163.030— Loan of money held in trust
NRS 163.040— Corporate trustee may deposit with self certain money held in trust
NRS 163.050— Trustee buying from or selling to self or affiliate
NRS 163.060— Trustee selling from one trust to self as trustee of another trust
NRS 163.070— Purchase by corporate trustee of its own stocks, bonds or other securities for trust prohibited unless specifically authorized
NRS 163.0075— Validity of trust providing for care of one or more animals
NRS 163.080— Voting stock
NRS 163.090— Holding stock in name of nominee
NRS 163.0095— Electronic trust: Requirements; conversion into certified paper original; destruction of electronic record
NRS 163.100— Powers of trustee attached to office
NRS 163.110— Powers of cotrustees: Exercisable by majority if more than two cotrustees; liability of dissenting cotrustee; unanimous action required if only two cotrustees; petition of interested person
NRS 163.115— Removal of trustee; maintenance of proceeding for breach of trust by trustee; permissible purposes for maintenance of proceeding; penalties for not filing petition in good faith; nonexclusivity of remedies; method of commencing proceeding
NRS 163.117— Ex parte order restraining trustee from taking certain actions
NRS 163.120— Claims based on certain contracts or obligations: Assertion against trust; entry of judgment; notice; intervention; personal liability of trustee; significance of use of certain terms
NRS 163.130— Exoneration or reimbursement of trustee for tort
NRS 163.140— Commission of tort by trustee or predecessor: Prerequisites to suit and collection from trust property; plaintiff not required to prove certain matters; entry of judgment; notice; intervention; personal liability of trustee; nonalteration of certain existing law
NRS 163.145— Using power to appoint or distribute income to discharge own legal obligation prohibited
NRS 163.150— Withdrawal from mingled money of multiple trusts
NRS 163.160— Power of settlor; liability of trustee for breach of trust
NRS 163.170— Power of beneficiary
NRS 163.180— Power of court
NRS 163.00185— “Trust instrument” defined
NRS 163.185— Power of court to order termination and distribution of trust before time provided in trust instrument
NRS 163.00187— Terms: “Execute” or “sign.”
NRS 163.187— Termination of trust when value of trust property insufficient to justify cost of administration
NRS 163.188— Distribution of assets funding a separate trust without creation of separate trust
NRS 163.190— Penalty for violation of certain provisions of chapter
NRS 163.00195— Enforcement of no-contest clauses; exceptions
NRS 163.200— Uniformity of interpretation
NRS 163.220— Short title
NRS 163.230— Testamentary addition to trust
NRS 163.250— Uniformity of interpretation
NRS 163.260— Incorporation by reference of powers enumerated in NRS 163.265
NRS 163.265— Retention of property
NRS 163.270— Sale, exchange or other disposition of property
NRS 163.275— Investments; reinvestments; delegation of authority to invest
NRS 163.280— Investments without diversification
NRS 163.285— Continuation of business
NRS 163.290— Formation of corporation, limited-liability company or other entity
NRS 163.295— Continuation of farming operation
NRS 163.300— Management of real property
NRS 163.305— Payment of taxes and expenses
NRS 163.310— Receipt of additional property
NRS 163.315— Dealing with other fiduciaries
NRS 163.320— Borrowing money; renewing existing loans
NRS 163.325— Advancing money
NRS 163.330— Voting shares
NRS 163.335— Registration in name of nominee
NRS 163.340— Exercise of options, rights and privileges
NRS 163.345— Participation in reorganization
NRS 163.350— Reduction of interest rate
NRS 163.355— Continuation of obligation
NRS 163.360— Foreclosure; bidding in property
NRS 163.365— Insurance
NRS 163.370— Collections
NRS 163.375— Litigation, compromise or abandonment of claim
NRS 163.380— Employment and compensation of persons
NRS 163.385— Acquisition and holding of property of two or more trusts undivided
NRS 163.390— Establishment and maintenance of reserves
NRS 163.395— Distribution in cash or kind
NRS 163.400— Payment to or for minor or incapacitated person
NRS 163.405— Apportionment or allocation of receipts and expenses
NRS 163.410— Execution of contract or other instrument
NRS 163.414— Definitions
NRS 163.415— “Distribution beneficiary” defined
NRS 163.416— “Remainder interest” defined
NRS 163.417— Limitations on actions of creditors and courts: Trust property not subject to trustee’s personal obligations; beneficial interests may not be transferred under certain circumstances
NRS 163.418— Clear and convincing evidence required to find settlor to be alter ego of trustee of irrevocable trust; certain factors insufficient for finding that settlor controls or is alter ego of trustee of irrevocable trust
NRS 163.419— Discretionary interest: Beneficiary does not have enforceable right to distribution; court review; trustee’s powers and duties
NRS 163.420— Short title
NRS 163.430— Declaration of policy
NRS 163.440— References to Internal Revenue Code
NRS 163.450— Definitions
NRS 163.460— “Charitable trust” defined
NRS 163.470— “Private foundation trust” defined
NRS 163.480— “Split interest trust” defined
NRS 163.490— “Trust” defined
NRS 163.500— “Trustee” defined
NRS 163.510— Applicability
NRS 163.520— Prohibited acts
NRS 163.530— Minimum distribution required
NRS 163.540— Amendment of trust instrument: Procedure
NRS 163.550— Amendment of trust instrument: Provision for termination of status as private foundation
NRS 163.551— Administration and enforcement; definitions
NRS 163.553— Definitions
NRS 163.554— “Fiduciary” defined
NRS 163.555— Action authorized upon incapacity or death of settlor
NRS 163.556— Circumstances under which trustee is authorized to appoint property of one testamentary trust or irrevocable trust to another trust
NRS 163.557— Reimbursement of settlor for tax on trust income or principal
NRS 163.558— Authority of settlor to specify conditions
NRS 163.560— Irrevocable trust not to be construed as revocable
NRS 163.565— Effect of divorce or annulment of marriage of settlor on revocable inter vivos trust
NRS 163.567— Effect of divorce, annulment of marriage or termination of domestic partnership of descendant of settlor on former spouse or domestic partner of descendant
NRS 163.570— Powers of trustee concerning gifts made by surviving spouse of decedent
NRS 163.580— Duty of third person to ensure proper application of trust property
NRS 163.590— Disposition of trust property by reference to statement or list; requirements for admissibility of statement or list as evidence of intended disposition; uses of statement or list
NRS 163.600— Appointment of successor trustee under certain circumstances
NRS 163.605— Incapacity of trustee: Removal; determination of incapacity; certification; restoration; burden of proof
NRS 163.610— Trustee authorized to include certain capital gains in distributable net income in certain circumstances
NRS 163.620— Admissibility of video recording or electronic record
NRS 163.4145— “Beneficial interest” defined
NRS 163.4147— “Beneficiary” defined
NRS 163.4155— “Distribution interest” defined
NRS 163.4157— “Power of appointment” defined
NRS 163.4165— “Reserved power” defined
NRS 163.4167— Common law
NRS 163.4175— Trustee not required to consider certain factors with regard to distribution of trust assets
NRS 163.4177— Factors which must not be considered exercising improper dominion or control over trust
NRS 163.4185— Classifications of distribution interests
NRS 163.4187— Support interest: Beneficiary has enforceable right to distribution; court review
NRS 163.5505— Creation; enforcement; requirements
NRS 163.5533— “Custodial account” defined
NRS 163.5535— “Custodial account owner” defined
NRS 163.5536— “Directing trust adviser” defined
NRS 163.5537— “Distribution trust adviser” defined
NRS 163.5541— “Instrument” defined
NRS 163.5543— “Investment trust adviser” defined
NRS 163.5545— “Trust adviser” defined
NRS 163.5547— “Trust protector” defined
NRS 163.5548— Circumstances under which fiduciary is “directed fiduciary.”
NRS 163.5549— Limitations on liability of directed fiduciary
NRS 163.5551— Circumstances in which trust advisers are considered fiduciaries
NRS 163.5553— Powers of trust protector
NRS 163.5555— Trust protector and trust adviser: Submission to jurisdiction of courts of this State
NRS 163.5557— Powers of investment trust adviser and distribution trust adviser
NRS 163.5559— Claims of creditors against settlor