Nev. Rev. Stat. § 153.010
Applicability of chapter
The provisions of this chapter govern fiduciaries acting under trusts, wills and court orders in estate proceedings, whether the estate has been distributed or proceedings are now pending.
Nevada Revised Statutes Chapter 153 — Administration of Trusts; Estates for Life and Years
Nevada · statute · Nev. Rev. Stat. ch. 153 · 12 active provisions
Nev. Rev. Stat. § 153.020
Retention of jurisdiction by court after final distribution
1. If a life estate or estate for years is created by or under any will to continue after distribution of the estate, the court does not lose jurisdiction of the estate, life estate or estate for years by final distribution of the estate, but retains jurisdiction of it until the distribution of the residue of the life…
Nev. Rev. Stat. § 153.031
Petition by trustee or beneficiary concerning affairs of trust: Purposes of petition; contents; notice and hearing; additional relief
1. A trustee or beneficiary may petition the court regarding any aspect of the affairs of the trust, including: (a) Determining the existence of the trust; (b) Determining the construction of the trust instrument; (c) Determining the existence of an immunity, power, privilege, right or duty; (d) Determining the validit…
Nev. Rev. Stat. § 153.041
Accounting by trustee
The trustee of a testamentary trust shall account in accordance with the provisions of chapter 165 of NRS. This section must not be interpreted to abridge the authority of a court having jurisdiction over a testamentary trust pursuant to NRS 153.020 or 164.010 to order a trustee of a testamentary trust to account, upon…
Nev. Rev. Stat. § 153.050
Accountings by life tenants and tenants for years
1. If by law, or by the terms of an instrument creating a life estate or an estate for years, the tenant is required to account for use of the property of the estate, then the provisions of this chapter concerning accounting by a trustee apply to the life tenant and tenant for years and, after death, to the personal re…
Nev. Rev. Stat. § 153.060
Petition for distribution of residue of trust estate, estate for life or estate for years: Notice
If a petition is filed for distribution of the residue of the trust estate, estate for life or estate for years to those entitled thereto, the clerk shall set the petition for hearing and the petitioner shall give notice of the hearing for the period and in the manner provided in NRS 155.010.
Nev. Rev. Stat. § 153.070
Expenses and compensation of trustees
The expenses and compensation of a trustee of a testamentary trust must initially be governed by the terms of the will which created the testamentary trust or as otherwise ordered by the court at the time the testamentary trust is established. Thereafter, subject to any contrary terms of the testamentary trust or an or…
Nev. Rev. Stat. § 153.080
Conclusiveness of order
An order entered under the provisions of this chapter, when it becomes final, is conclusive upon all interested persons, whether or not they are competent or in being.
Nev. Rev. Stat. § 153.090
Declination or resignation of person named or designated trustee: Procedure
1. A person named or designated as a trustee of a testamentary trust in a will may, at any time before distribution of any of the estate to the person, decline to act as trustee, and an order of court must be entered accepting the resignation, but the declination of any person who has qualified as trustee may not be ac…
Nev. Rev. Stat. § 153.100
Appointment to fill vacancy
1. The court in which the administration is pending may, at any time before final distribution of the trust, appoint a qualified person to fill a vacancy in the office of trustee under the will, whether resulting from death, declination, resignation, removal or otherwise, if the appointment is necessary to carry out th…
Nev. Rev. Stat. § 153.120
Bond of trustee
The court may require a person appointed as trustee, before acting as a trustee, to give a bond as is required of a personal representative. If a bond is required, the trustee must be allowed the cost of the bond out of the trust estate.
Nev. Rev. Stat. § 153.130
Effect of power of appointment
Except as otherwise provided in a will establishing a testamentary trust, a person holding a power of appointment pursuant to a testamentary trust does not owe a fiduciary duty to any person and is not liable to any person with respect to the exercise or nonexercise of the power of appointment.