Title 13

NRS 163.0017 “Record” defined. “Record” has the meaning ascribed to it in NRS 132.287. (Added to NRS by 2001, 2350)

NRS 163.0018 “Testamentary trust” defined. “Testamentary trust” means a trust that is created by the terms of the will, including, without limitation, the electronic will, of a person. (Added to NRS by 2015, 3538; A 2017, 3443)

NRS 163.00185 “Trust instrument” defined. “Trust instrument” means a will, trust agreement, declaration, or other instrument, including, without limitation, an electronic trust, that creates or defines the duties and powers of a trustee and shall include a court order or any inst…

NRS 163.00187 Terms: “Execute” or “sign.” As used in this chapter, unless the context otherwise requires, when the terms “execute” or “sign” are used in reference to a will, trust or instrument to convey property, the terms include the use of an electronic signature. (Added to NR…

NRS 163.0019 Terms: “Writing” or “written.” As used in this chapter, unless the context otherwise requires, when the term “writing” or “written” is used in reference to a will, trust or instrument to convey property, the term includes an electronic will as defined in NRS 132.119 …

NRS 163.00195 Enforcement of no-contest clauses; exceptions. 1. Except as otherwise provided in subsection 4, a no-contest clause in a trust must be enforced, to the greatest extent possible, by the court according to the terms expressly stated in the no-contest clause without re…

NRS 163.002 Creation: Methods; certain property deemed trust property. 1. Except as otherwise provided by specific statute or any regulatory or contractual restrictions, a trust may be created by any of the following methods: (a) A declaration by the owner of property that he or …

NRS 163.003 Creation: Requirements. A trust is created only if: 1. The settlor properly manifests an intention to create a trust; and 2. There is trust property, except as otherwise provided in NRS 163.230. (Added to NRS by 1991, 1704; A 1999, 2367)

NRS 163.004 Creation: Terms; revocability; rules of construction. 1. Except as otherwise provided by law, the terms of a trust instrument may expand, restrict, eliminate or otherwise vary the rights and interests of beneficiaries in any manner that is not illegal or against publi…

NRS 163.005 Creation: Consideration. Consideration is not required to create a trust, but a promise to create a trust in the future is enforceable only if it meets the requirements for enforcement as a contract. (Added to NRS by 1991, 1705)

NRS 163.006 Creation: Beneficiary. A trust is created only if there is a beneficiary. This requirement is satisfied if the trust instrument provides for: 1. A beneficiary or class of beneficiaries that is ascertainable with reasonable certainty or that is sufficiently described s…

NRS 163.007 Validity of trust providing for one or more successor beneficiaries. If a trust provides for one or more successor beneficiaries after the death of the settlor, the trust is not invalidated, merged or terminated because: 1. There is one settlor who is the sole trustee…

NRS 163.0075 Validity of trust providing for care of one or more animals. 1. A trust created for the care of one or more animals that are alive at the time of the settlor’s death is valid. Such a trust terminates upon the death of all animals covered by the terms of the trust. A …

NRS 163.008 Validity of trust created in relation to real property; recordation. 1. A trust created in relation to real property is not valid unless it is created by operation of law or is evidenced by: (a) A written instrument signed by the trustee, or by the agent of the truste…

NRS 163.009 Oral trust of personal property. 1. The existence and terms of an oral trust of personal property may be established only by clear and convincing evidence. The oral declaration of the settlor, in and of itself, is not sufficient to establish the creation of such a tru…

NRS 163.0095 Electronic trust: Requirements; conversion into certified paper original; destruction of electronic record. 1. An electronic trust is a trust instrument that: (a) Is created and maintained in an electronic record in such a manner that any alteration thereto is detect…

NRS 163.010 Short title. NRS 163.010 to 163.200, inclusive, may be cited as the Uniform Trusts Act. [20:136:1941; 1931 NCL § 7718.49]—(NRS A 1967, 763; 1999, 2367)

NRS 163.020 Definitions. As used in NRS 163.010 to 163.200, inclusive, unless the context or subject matter otherwise requires: 1. “Affiliate” means any person directly or indirectly controlling or controlled by another person, or any person under direct or indirect common contro…

NRS 163.023 Powers of trustee. A trustee has the powers provided in the trust instrument, expressed by law or granted by the court upon petition, as necessary or appropriate to accomplish a purpose of the trust, but the court may not grant a power expressly prohibited by the trus…

NRS 163.025 Combining or dividing certain trusts. 1. Except as otherwise provided by the terms of the trust instrument, a trustee may combine two or more trusts into a single trust or divide a trust into two or more separate trusts if the combination or division does not: (a) Imp…

NRS 163.026 Giving name to or changing name of certain trusts. Except as otherwise specifically provided in the trust instrument and except to the extent it would be materially detrimental to the administration of the trust or to the furtherance of its purposes, a trustee may cha…

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. 1. Except as otherwise provided in subsection 2 or in the trust, a trustee may distribute …

NRS 163.030 Loan of money held in trust. 1. Except as provided in NRS 163.040, no corporate trustee shall lend trust funds to itself or an affiliate, or to any director, officer, or employee of itself or of an affiliate. 2. Except as otherwise: (a) Provided in a trust instrument …

NRS 163.040 Corporate trustee may deposit with self certain money held in trust. 1. A corporate trustee which is subject to regulation and supervision by state or federal authorities may deposit with itself trust funds which are being held necessarily pending investment, distribu…

NRS 163.050 Trustee buying from or selling to self or affiliate. 1. Except as otherwise provided in subsection 2, no trustee may directly or indirectly buy or sell any property for the trust from or to itself or an affiliate, or from or to a director, officer or employee of the t…

NRS 163.060 Trustee selling from one trust to self as trustee of another trust. 1. Except as otherwise provided in subsection 2 or authorized by the trust instrument, a trustee shall not as trustee of one trust sell property to itself as trustee of another trust except with the a…

NRS 163.070 Purchase by corporate trustee of its own stocks, bonds or other securities for trust prohibited unless specifically authorized. Except as otherwise authorized by the trust instrument or order of the court, a corporate trustee shall not purchase for a trust shares of i…

NRS 163.080 Voting stock. A trustee owning corporate stock may vote it by proxy, but shall be liable for any loss resulting to the beneficiaries from a failure to use reasonable care in deciding how to vote the stock and in voting it. [7:136:1941; 1931 NCL § 7718.36]

NRS 163.090 Holding stock in name of nominee. A trustee owning stock may hold it in the name of a nominee without mention of the trust in the stock certificate or stock registration books; providing that: 1. The trust records and all reports or accounts rendered by the trustee cl…

NRS 163.100 Powers of trustee attached to office. Unless it is otherwise provided by the trust instrument or by court order, all powers of a trustee are attached to the office and are not personal. [9:136:1941; 1931 NCL § 7718.38]—(NRS A 1999, 2368)

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. 1. Unless it is otherwise provided by the trust instrument or by court order,…

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. 1. A settlor, cotrustee or b…

NRS 163.117 Ex parte order restraining trustee from taking certain actions. 1. On petition or ex parte application of a beneficiary or trustee, the court, with or without bond, may enter an ex parte order restraining a trustee from performing specified acts of administration, dis…

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. 1. A claim based on a contract entered into by a trustee in the capacity of represe…

NRS 163.130 Exoneration or reimbursement of trustee for tort. 1. A trustee who has incurred personal liability for a tort committed in the administration of the trust is entitled to exoneration therefor from the trust property if the trustee has not discharged the claim, or to be…

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. 1. I…

NRS 163.145 Using power to appoint or distribute income to discharge own legal obligation prohibited. Except as otherwise specifically provided in the trust instrument, a person who holds a power to appoint or distribute income or principal to or for the benefit of others, indivi…

NRS 163.150 Withdrawal from mingled money of multiple trusts. Where a person who is a trustee of two or more trusts has mingled the money of two or more trusts in the same aggregate of cash, or in the same bank, credit union or brokerage account or other investment, and a withdra…

NRS 163.160 Power of settlor; liability of trustee for breach of trust. 1. The settlor of a trust affected by NRS 163.010 to 163.200, inclusive, may, by provision in the instrument creating the trust if the trust was created by a writing, or by oral statement to the trustee at th…

NRS 163.170 Power of beneficiary. A beneficiary of a trust affected by NRS 163.010 to 163.200, inclusive, may, if of full legal capacity and acting upon full information, by written instrument delivered to the trustee, relieve the trustee as to that beneficiary from any or all of…

NRS 163.180 Power of court. A court may, for cause shown and upon notice to the beneficiaries, relieve a trustee from any or all of the duties and restrictions which would otherwise be placed upon the trustee by NRS 163.010 to 163.200, inclusive, or wholly or partly excuse a trus…

NRS 163.185 Power of court to order termination and distribution of trust before time provided in trust instrument. Upon such terms and conditions as are just and proper, the court may order termination and distribution of a trust before the time provided in the trust instrument,…

NRS 163.187 Termination of trust when value of trust property insufficient to justify cost of administration. 1. After notice to the beneficiaries, the trustee of a trust that consists of trust property having a total value of less than $100,000 or that is uneconomical to adminis…

NRS 163.188 Distribution of assets funding a separate trust without creation of separate trust. 1. Unless specifically prohibited by the terms of a will or trust instrument and except as otherwise provided in subsection 2, if an instrument creating a separate trust requires the a…

NRS 163.190 Penalty for violation of certain provisions of chapter. If a trustee violates any of the provisions of NRS 163.010 to 163.200, inclusive, the trustee may be removed and denied compensation in whole or in part, and any beneficiary, cotrustee or successor trustee may tr…