Title 13

NRS 165.170 Power of beneficiary. Any beneficiary, if of full age and sound mind, may, if acting upon full information, by written instrument delivered to the trustee, excuse the trustee as to such beneficiary from performing any of the duties imposed on the trustee by this chapt…

NRS 165.180 Accountability of trustees at other times. This chapter does not abridge the power of any court of competent jurisdiction to require testamentary or nontestamentary trustees to file an inventory, to account, to exhibit the trust property, or to give beneficiaries info…

NRS 165.190 Enforcement. A beneficiary may petition the court having jurisdiction over the accountings, as prescribed in this chapter, for an order requiring the trustee to perform the duties imposed upon the trustee by this chapter. [18:135:1941; 1931 NCL § 7718.17]—(NRS A 1999,…

NRS 165.200 Penalties for violation of chapter. When a trustee fails to perform any of the duties imposed upon the trustee by this chapter the trustee may be removed, the trustee’s compensation may be reduced or forfeited, or other civil penalty inflicted, in the discretion of th…

NRS 165.210 Form of inventory and accounts; compensation of attorney for intermediate and final accounts. 1. The courts given jurisdiction over accountings by this chapter may prescribe forms in which inventories and accounts shall be presented. 2. An attorney for a trustee shall…

NRS 165.220 Oaths. Whenever an oath or affirmation is required of a trustee under this chapter, it may be made in the case of a corporate trustee by an officer of such corporate trustee, and in the case of cotrustees acting jointly by any one of the cotrustees. [21:135:1941; 1931…

NRS 165.230 Charitable trusts. This chapter shall apply to charitable trusts. Documents required to be delivered to beneficiaries of such trusts shall be delivered to the Attorney General. [22:135:1941; 1931 NCL § 7718.21]

NRS 165.240 Uniformity of interpretation. This chapter shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it. [23:135:1941; 1931 NCL § 7718.22]

NRS 166.010 Short title. This chapter may be referred to by the short title of Spendthrift Trust Act of Nevada, and such reference will be sufficient for all purposes. [7:86:1939; 1931 NCL § 6880.06]

NRS 166.015 Applicability of chapter; requirement of trustee if settlor is beneficiary of trust. 1. Unless the writing declares to the contrary, expressly, this chapter governs the construction, operation and enforcement, in this State, of all spendthrift trusts created in or out…

NRS 166.016 Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 166.018 and 166.020 have the meanings ascribed to them in those sections. (Added to NRS by 2019, 1874)

NRS 166.018 “Settlor” defined. “Settlor” means: 1. The person who creates a spendthrift trust however described in the trust instrument; or 2. Any person who contributes assets to the spendthrift trust as to the assets he or she contributed to the spendthrift trust except to the …

NRS 166.020 “Spendthrift trust” defined. “Spendthrift trust” means a trust in which by the terms thereof a valid restraint on the voluntary and involuntary transfer of the interest of the beneficiary is imposed. It is an active trust not governed or executed by any use or rule of…

NRS 166.025 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, the term includes an electronic will as defined in NRS 132.119 and an electronic tr…

NRS 166.040 Competency of settlor; writing required; circumstances when writing meets requirements for trust to be created for benefit of settlor; settlor’s ability to hold other powers. 1. Any person competent by law to execute a will or deed may, by writing only, duly executed,…

NRS 166.045 Powers of settlor. The settlor of a spendthrift trust has only those powers and rights that are conferred to the settlor by the trust instrument. An agreement or understanding, express or implied, between the settlor and the trustee that attempts to grant or permit th…

NRS 166.050 No specific language necessary for creation of trust. No specific language is necessary for the creation of a spendthrift trust. It is sufficient if by the terms of the writing (construed in the light of this chapter if necessary) the creator manifests an intention to…

NRS 166.070 Principles enumerated in NRS 166.080 to 166.150, inclusive. Unless the writing shall declare to the contrary, expressly, the construction, operation and enforcement of all spendthrift trusts, heretofore or hereafter created in this state, shall be governed by the prin…

NRS 166.080 Beneficiaries to be named. The beneficiary or beneficiaries of such trust shall be named or clearly referred to in the writing. No spouse, former spouse, child or dependent shall be a beneficiary unless named or clearly referred to as a beneficiary in the writing. [Pa…

NRS 166.090 Provision for support. 1. Provision for the beneficiary will be for the support, education, maintenance and benefit of the beneficiary alone, and without reference to or limitation by the beneficiary’s needs, station in life, or mode of life, or the needs of any other…

NRS 166.100 Income. Provision for the beneficiary will extend to all of the income from the trust estate, devoted for that purpose by the creator of the trust, without exception or deduction, other than for: 1. Costs or fees regularly earned, paid or incurred by the trustee for a…

NRS 166.110 Discretion of trustee. 1. In all cases where the creator of a spendthrift trust shall indicate the sum to be applied for or paid to the beneficiary or shall make the application or payment of sums or further sums for or to the beneficiary discretionary with the truste…

NRS 166.120 Restraints on alienation; exclusive jurisdiction of court. 1. A spendthrift trust as defined in this chapter restrains and prohibits generally the assignment, alienation, acceleration and anticipation of any interest of the beneficiary under the trust by the voluntary…

NRS 166.130 Legal estate of beneficiary in corpus. A beneficiary of a spendthrift trust has no legal estate in the capital, principal or corpus of the trust estate unless under the terms of the trust the beneficiary or one deriving title from him or her is entitled to have it con…

NRS 166.140 Perpetuities. A spendthrift trust may not continue for a period longer than that allowed under NRS 111.103 to 111.1039, inclusive. The free alienation of the legal estate by the trustee may not be suspended for a period exceeding the limit prescribed in any constituti…

NRS 166.150 Accumulation of income. An accumulation of the income of trust property may be directed in the will or other writing creating a spendthrift trust, for the benefit of one or more beneficiaries, to commence within the time permitted for the vesting of future interests a…

NRS 166.160 Settlor may make different provisions. The principles stated in NRS 166.080 to 166.150, inclusive, shall not prevent the creator of any spendthrift trust, by will or other writing, from making other or different provisions provided he or she uses express, specific lan…

NRS 166.170 Limitation of actions with respect to transfer of property to trust; certain transfers of property disregarded; limitation of actions against advisers to settlors or trustees and against trustees; transfers to trust. 1. A person may not bring an action with respect to…

NRS 166.180 Trust administered under laws of another state or foreign jurisdiction. 1. A trust administered under the laws of another state, or under the laws of a foreign jurisdiction, is a spendthrift trust pursuant to this chapter if: (a) The trustee of the trust complies with…

NRS 166A.010 Short title. This chapter may be cited as the Nevada Uniform Custodial Trust Act. (Added to NRS by 2007, 284)

NRS 166A.020 Definitions. As used in this chapter, unless the context otherwise requires, the words and terms defined in NRS 166A.030 to 166A.170, inclusive, have the meanings ascribed to them in those sections. (Added to NRS by 2007, 285)

NRS 166A.030 “Adult” defined. “Adult” means an individual who is at least 18 years of age. (Added to NRS by 2007, 285)

NRS 166A.040 “Beneficiary” defined. “Beneficiary” means an individual for whom property has been transferred to or held under a declaration of trust by a custodial trustee for the individual’s use and benefit under this chapter. (Added to NRS by 2007, 285)

NRS 166A.050 “Conservator” defined. “Conservator” means a person appointed or qualified by a court to manage the estate of an individual or a person legally authorized to perform substantially the same functions. (Added to NRS by 2007, 285)

NRS 166A.060 “Court” defined. “Court” means a district court of this State. (Added to NRS by 2007, 285)

NRS 166A.070 “Custodial trust property” defined. “Custodial trust property” means an interest in property transferred to or held under a declaration of trust by a custodial trustee under this chapter and the income from and proceeds of that interest. (Added to NRS by 2007, 285)

NRS 166A.080 “Custodial trustee” defined. “Custodial trustee” means a person designated as trustee of a custodial trust under this chapter or a substitute or successor to the person designated. (Added to NRS by 2007, 285)

NRS 166A.090 “Guardian” defined. “Guardian” means a person appointed or qualified by a court as a guardian of an individual, including, without limitation, a limited guardian, but not a person who is only a guardian ad litem. (Added to NRS by 2007, 285)

NRS 166A.100 “Incapacitated” defined. “Incapacitated” means lacking the ability to manage property and business affairs effectively by reason of mental illness, mental deficiency, physical illness or disability, chronic use of drugs, chronic intoxication, confinement, detention b…

NRS 166A.110 “Legal representative” defined. “Legal representative” means a personal representative or conservator. (Added to NRS by 2007, 285)

NRS 166A.120 “Member of the beneficiary’s family” defined. “Member of the beneficiary’s family” means a beneficiary’s spouse, descendant, stepchild, parent, stepparent, grandparent, brother, sister, uncle or aunt, whether of the whole or half blood or by adoption. (Added to NRS b…

NRS 166A.130 “Person” defined. “Person” means an individual, corporation, business trust, estate, trust, partnership, joint venture, association or any other legal or commercial entity. (Added to NRS by 2007, 285)

NRS 166A.140 “Personal representative” defined. “Personal representative” means an executor, administrator or special administrator of a decedent’s estate, a person legally authorized to perform substantially the same functions or a successor to any of them. (Added to NRS by 2007…

NRS 166A.150 “State” defined. “State” means a state, territory or possession of the United States, the District of Columbia or the Commonwealth of Puerto Rico. (Added to NRS by 2007, 285)

NRS 166A.160 “Transferor” defined. “Transferor” means a person who creates a custodial trust by transfer or declaration. (Added to NRS by 2007, 285)

NRS 166A.170 “Trust company” defined. “Trust company” means a financial institution, corporation or other legal entity, authorized to exercise general trust powers. (Added to NRS by 2007, 285) CUSTODIAL TRUSTS