Nevada Revised Statutes
Chapter 164 - Administration of Trusts
NRS 164.700 - Definitions.

As used in NRS 164.700 to 164.925, inclusive:
1. "Fiduciary" means a trustee or, to the extent that NRS 164.780 to 164.925, inclusive, apply to an estate, a personal representative.
2. "Terms of a trust" means the manifestation of the intent of a settlor or decedent with respect to the trust, expressed in a manner that admits of its proof in a judicial proceeding, whether by written or spoken words or by conduct.
3. "Unitrust" means a trust in which a certain percentage of annually assessed fair market value of trust property is paid to a trust beneficiary.
(Added to NRS by 2003, 1965; A 2009, 799)

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Structure Nevada Revised Statutes

Nevada Revised Statutes

Chapter 164 - Administration of Trusts

NRS 164.005 - Applicability of provisions of chapters 132, 153 and 155 of NRS regulating matters of estates.

NRS 164.010 - Petition for assumption of jurisdiction; circumstances in which trust is domiciled in this State; determination of venue; powers of court; petition for removal of trust from jurisdiction of court.

NRS 164.015 - Petition concerning internal affairs of nontestamentary trust; jurisdiction of court; procedure for contests of certain trusts; final order; appeal.

NRS 164.021 - Notice by trustee to beneficiary concerning change of revocable trust to irrevocable trust; contents of notice; limitation of action to contest validity of trust.

NRS 164.025 - Notice of death of settlor; filing of claim against settlor, trust estate or settlor and trust estate; effect of failure to file claim; notice to Department of Health and Human Services; notice of rejected claim; effect of failure to br...

NRS 164.030 - Petition for instructions: Notice; hearing; final order; appeal.

NRS 164.033 - Petition concerning conveyance, transfer or delivery of property of trust; notice of hearing; order; appeal.

NRS 164.037 - Petitions: Notice and hearing.

NRS 164.038 - Circumstances under which certain persons are authorized to be represented by persons with similar interests in proceedings concerning administration of trust; binding results; representation by powerholder for permissible appointee or...

NRS 164.040 - Power or jurisdiction of court not abridged; court may take action necessary or proper to dispose of matter presented by petition.

NRS 164.043 - Expenses and compensation of trustees.

NRS 164.045 - Circumstances under which laws of this State govern trusts; change of situs to this State.

NRS 164.067 - Power to sell, convey or encumber.

NRS 164.070 - Short title.

NRS 164.080 - Establishment; investments; management.

NRS 164.090 - Accountings.

NRS 164.100 - Uniformity of interpretation.

NRS 164.130 - Transfer by court to district court in this State or court outside Nevada.

NRS 164.400 - Presentation; effect; form.

NRS 164.410 - Contents.

NRS 164.420 - Dispositive provisions not required; person presented with certification may request excerpts from trust instrument designating trustee.

NRS 164.430 - Reliance upon facts contained in certification; enforceability.

NRS 164.440 - Failure to demand certification not improper act; liability.

NRS 164.640 - Short title.

NRS 164.643 - Definitions.

NRS 164.645 - "Charitable purpose" defined.

NRS 164.647 - "Endowment fund" defined.

NRS 164.650 - "Gift instrument" defined.

NRS 164.653 - "Institution" defined.

NRS 164.655 - "Institutional fund" defined.

NRS 164.657 - "Person" defined.

NRS 164.660 - "Program-related asset" defined.

NRS 164.663 - "Record" defined.

NRS 164.665 - Standard of conduct in managing and investing institutional fund.

NRS 164.667 - Appropriation for expenditure or accumulation of endowment fund; rules of construction.

NRS 164.670 - Delegation of management and investment functions.

NRS 164.673 - Release or modification of restrictions on management, investment or purpose.

NRS 164.675 - Reviewing compliance.

NRS 164.677 - Relation to Electronic Signatures in Global and National Commerce Act.

NRS 164.680 - Uniformity of application and construction.

NRS 164.700 - Definitions.

NRS 164.705 - Short title.

NRS 164.710 - Administration of trust or estate by fiduciary in accordance with its terms or in accordance with provisions of NRS.

NRS 164.715 - Acting in interest of beneficiaries.

NRS 164.720 - Trust having two or more beneficiaries; impartial administration of trust or estate.

NRS 164.725 - Notice of proposed action: Authorized; to whom notice must be sent; content; objection to proposed action; limitations on liability; court order to take action over objection; burden of proof; notice when action not taken.

NRS 164.730 - No duty to make adjustment between principal and income; trustee immunity from liability.

NRS 164.735 - Applicability.

NRS 164.740 - Duty to comply with prudent investor rule; circumstances under which trustee is immune from liability.

NRS 164.745 - Satisfaction of prudent investor standard; evaluation of decisions; consideration of circumstances; verification of facts; types of investments; special skills or expertise of trustee.

NRS 164.750 - Diversification of investments.

NRS 164.755 - Duty to bring trust portfolio into compliance with terms and circumstances of trust and provisions of NRS within reasonable time.

NRS 164.760 - Incurring costs.

NRS 164.765 - Determination of compliance with prudent investor rule.

NRS 164.770 - Delegation of functions by trustee; standard of care owed by agent; trustee immunity from liability; jurisdiction over agent.

NRS 164.775 - Terms and language of trust which authorize certain investments or strategies.

NRS 164.780 - Short title.

NRS 164.785 - Definitions.

NRS 164.790 - Allocation of receipt or disbursement to principal when terms of trust and provisions of NRS do not provide rule.

NRS 164.795 - Adjustment between principal and income; consideration of factors; adjustment prohibited under certain circumstances; release of power to adjust; effect of terms of trust that limit power to adjust.

NRS 164.796 - Circumstances under which trustee authorized to convert trust into unitrust; effect of such conversion on certain terms of trust; liability of trustee or disinterested person.

NRS 164.797 - Administration of unitrust: Duties of trustee; valuation of assets of trust.

NRS 164.798 - Administration of unitrust: Powers of trustee; manner of distributions.

NRS 164.799 - Trustee or beneficiary authorized to petition court to take certain actions concerning unitrust.

NRS 164.800 - Applicable rules after death of decedent or end of income interest in trust.

NRS 164.805 - Distribution of net income to beneficiaries; rules for determining share of net income.

NRS 164.810 - Date on which income interest begins; date on which asset becomes subject to trust or successive income interest; date on which income interest ends.

NRS 164.815 - Allocation of certain income receipts and disbursements; due dates for certain payments and distributions.

NRS 164.820 - Payment of undistributed income upon end of mandatory income interest; prorating final payment upon end of obligation to pay fixed annuity or fixed fraction of value of trust’s assets.

NRS 164.825 - Allocation of money received from entity to income; allocation of receipts from entity to principal; determination of money as return of capital; reliance upon financial statements and other information about character of distribution o...

NRS 164.830 - Allocation of amount received as distribution of income to income; allocation of distribution of principal to principal; purchase of interest in trust that is investment entity.

NRS 164.835 - Accounting separately for business or other activity.

NRS 164.840 - Allocation of assets, money, property and other receipts to principal.

NRS 164.845 - Allocation of receipts from rental property to income; treatment of refundable deposit.

NRS 164.850 - Allocation of interest on obligation to pay money to trustee to income; allocation of amount received from disposition of certain obligations to principal; applicability of provisions.

NRS 164.855 - Allocation of proceeds of life insurance policy and certain contracts to principal; allocation of dividends on insurance policy to income or principal.

NRS 164.860 - Allocation of entire amount to principal if allocation between principal and income under certain circumstances is insubstantial.

NRS 164.865 - Allocation of certain payments received because of services rendered or property transferred to payor in exchange for future payments to income or principal, or both; certain exceptions for trusts that qualify for marital deduction unde...

NRS 164.870 - Allocation of receipts from liquidating assets to income and principal.

NRS 164.875 - Allocation of receipts from interest in minerals to income or to income and principal; allocation of receipts from interest in water to income or to income and principal; applicability.

NRS 164.880 - Allocation of net receipts from sale of timber and related products to income or principal, or both; applicability.

NRS 164.885 - Request of spouse if marital deduction is allowed and amounts transferred from principal to income and distributed are insufficient to obtain marital deduction; proceeds from sale or disposition of assets generally principal.

NRS 164.890 - Allocation of receipts from and disbursements made in connection with transactions in derivatives to principal; allocation of amount received for granting certain options to principal.

NRS 164.895 - Allocation from proceeds of collateral financial assets to income and principal; allocation of payments in exchange for interest in asset-backed security to principal or to principal and income.

NRS 164.900 - Disbursements required to be made from income; reduction of amount charged against income.

NRS 164.905 - Disbursements required to be made from principal.

NRS 164.910 - Transfer of net cash receipts from principal asset subject to depreciation to principal.

NRS 164.915 - Transfer of amount from income to principal to make certain principal disbursements.

NRS 164.920 - Payment of taxes required to be paid by trustee.

NRS 164.925 - Adjustments between principal and income to offset shifting economic interests or tax benefits between income beneficiaries and remainder beneficiaries; reimbursement of principal if estate taxes are increased and income taxes are decre...

NRS 164.930 - Enforceability of certain arbitration provisions; presumption in favor of binding arbitration; appointment of guardian ad litem; contents of arbitration provisions.

NRS 164.940 - Nonjudicial settlement agreements: Enforceability; when void; matters that may be resolved.

NRS 164.942 - Nonjudicial settlement agreements: When effective; providing objections; notice of proposed action; failure to object constitutes acceptance; petitioning court for approval.

NRS 164.950 - Distribution by trustee of community property in nontestamentary trust established by married settlors.

NRS 164.960 - Applicability of NRS 111.781 to transfers of property made pursuant to trust.