reglab/housing_qa huggingface dataset:
NV Rev Stat § 163.5559 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.5559 - Claims of creditors against settlor.

  1. Except as otherwise provided in subsection 2, a creditor of a settlor may not seek to satisfy a claim against the settlor from the assets of a trust if the settlor’s sole interest in the trust is the existence of a discretionary power granted to a person other than the settlor by the terms of the trust or by operation of law or to reimburse the settlor for any tax on trust income or principal which is payable by the settlor under the law imposing such tax.  2. The provisions of subsection 1 do not apply to trust property transferred by the settlor to the extent a creditor can prove the transfer was fraudulent pursuant to chapter 112 of NRS or was otherwise wrongful as to that creditor.  3. For purposes of this section, a beneficiary of a trust shall be deemed to not be a settlor of a trust because of a lapse, waiver or release of the beneficiary’s right to withdraw part or all of the trust property if the value of the property which could have been withdrawn by exercising the right of withdrawal in any calendar year does not, at the time of the lapse, waiver or release, exceed the greater of the amount provided in 26 U.S.C. § 2041(b)(2), 26 U.S.C. § 2503(b) or 26 U.S.C. § 2514(e), as amended, or any successor provision.  (Added to NRS by 2009, 790)
NV Rev Stat § 163.558 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.558 - Authority of settlor to specify conditions.

Except to the extent that it violates public policy, a settlor may:  1. Make a devise conditional upon a beneficiary’s action or failure to take action or upon the occurrence or nonoccurrence of one or more specified events; and  2. Specify the conditions or actions which would disqualify a person from serving or which would constitute cause for removal of a person who is serving in any capacity under the trust, including, without limitation, as a trustee, trust protector or trust adviser.  (Added to NRS by 2011, 1465)
NV Rev Stat § 163.560 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.560 - Irrevocable trust not to be construed as revocable.

  1. If the settlor of any trust specifically declares in the instrument creating the trust that such trust is irrevocable it shall be irrevocable for all purposes, even though the settlor is also the beneficiary of such trust.  2. Such trust shall, under no circumstances, be construed to be revocable for the reason that the settlor and beneficiary is the same person.  (Added to NRS by 1973, 372)
NV Rev Stat § 163.565 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.565 - Effect of divorce or annulment of marriage of settlor on revocable inter vivos trust.

Divorce or annulment of the marriage of a settlor revokes every devise, beneficial interest or designation to serve as trustee given by the settlor to the former spouse of the settlor in a revocable inter vivos trust executed before the entry of the decree of divorce or annulment unless otherwise:  1. Provided in a property or separation agreement that is approved by the court in the divorce or annulment proceedings; or  2. Ordered by the court in the divorce or annulment proceedings,  and the revocable inter vivos trust provisions take effect in the same manner as if the spouse had predeceased the trustor.  (Added to NRS by 2003, 342)
NV Rev Stat § 163.567 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|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.

Unless otherwise ordered or provided for in a property or separation agreement approved by the court in a proceeding for a divorce or annulment, the divorce, annulment of the marriage or termination of the domestic partnership of the descendant of a settlor revokes:  1. Every devise, beneficial interest or designation to serve as trustee that was given by the settlor to the former spouse or domestic partner of the descendant in a revocable inter vivos trust executed before the entry of the decree of divorce or annulment or the termination of the domestic partnership, unless otherwise provided in the trust instrument, and the provisions of the trust take effect in the same manner as if the spouse or domestic partner of the descendant predeceased the settlor; and  2. The appointment of the spouse or domestic partner of the descendant as a trust protector, trust adviser or consultant.  (Added to NRS by 2017, 1686)
NV Rev Stat § 163.570 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.570 - Powers of trustee concerning gifts made by surviving spouse of decedent.

A trustee may:  1. Join with a decedent’s surviving spouse or the personal representative of the decedent’s estate in the execution and filing of a joint income tax return for any period before the decedent’s death for which the decedent had not filed an income tax or gift tax return on gifts made by the spouse;  2. Consent to treat such gifts as having been made one-half by the decedent for any period before the decedent’s death; and  3. Pay such taxes thereon as are chargeable to the decedent.  (Added to NRS by 1979, 455; A 1999, 2375)
NV Rev Stat § 163.580 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.580 - Duty of third person to ensure proper application of trust property.

A third person who acts in good faith is not bound to ensure the proper application of trust property paid or delivered to a trustee.  (Added to NRS by 1999, 2366)
NV Rev Stat § 163.590 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|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.

  1. Whether or not the provisions relating to electronic trusts apply, a trust may refer to a written statement or list, including, without limitation, a written statement or list contained in an electronic record, to dispose of items of trust property not otherwise specifically disposed of by the trust.  2. To be admissible as evidence of the intended disposition, the statement or list must contain:  (a) The date of its execution.  (b) A title indicating its purpose.  (c) A reference to the trust to which it relates.  (d) A reasonably certain description of the items to be disposed of and the beneficiaries.  (e) The handwritten signature or electronic signature of the settlor.  3. The statement or list may be:  (a) Referred to as a writing to be in existence at the death of the settlor.  (b) Prepared before or after the execution of the trust instrument.  (c) Altered by the settlor after its preparation.  (d) A writing which has no significance apart from its effect upon the dispositions made by the trust.  4. Except as otherwise provided in this subsection, the statement or list may be used to dispose of all items of trust property, regardless of whether the trust property is real or personal property or tangible or intangible property. The trust instrument may limit the use of the statement or list so that the statement or list:  (a) Is expressly limited to tangible personal property;  (b) Cannot be used to direct the disposition of trust property that is above a value specified by the trust instrument; or  (c) Is not applicable to certain types of property, including, without limitation:  (1) Money;  (2) Evidences of indebtedness;  (3) Documents of title;  (4) Securities; and  (5) Property used in a trade or business.  (Added to NRS by 1999, 2366; A 2001, 2351; 2019, 1869)
NV Rev Stat § 163.600 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.600 - Appointment of successor trustee under certain circumstances.

  1. If a trust has no serving trustee because of the death, incapacity or resignation of the last serving trustee of the trust, and if the provisions of the trust instrument do not include any provisions which can be effectively used to appoint a successor trustee, then the current beneficiaries of the trust, by unanimous vote, may name and appoint a successor trustee of the trust without the approval of the court so long as the successor trustee of the trust is not a person described in NRS 138.020 and is not a "related or subordinate person" with respect to the settlor of the trust or any beneficiary thereof within the meaning of section 672(c) of the Internal Revenue Code, 26 U.S.C. § 672(c), as amended.  2. If a current beneficiary is a minor, the minor’s guardian or guardian ad litem may vote on the minor’s behalf.  3. NRS 164.038 shall apply with respect to the appointment of a trustee under this section.  4. For the purposes of this section, the person entitled to vote with respect to a beneficiary which is another trust, which has a serving trustee, is the trustee or trustees of such trust.  (Added to NRS by 2015, 3540)
NV Rev Stat § 163.610 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.610 - Trustee authorized to include certain capital gains in distributable net income in certain circumstances.

Unless otherwise provided by the trust instrument, a trustee may include capital gains from the sale or exchange of capital assets in distributable net income to the extent the gains are, in a reasonable and impartial exercise of discretion by the trustee, allocated to:  1. Income pursuant to the power of the trustee to adjust between principal and income pursuant to NRS 164.795;  2. Principal and treated consistently by the trustee in the books, records and tax returns of the trust as part of the distribution to a beneficiary; or  3. Principal but distributed to a beneficiary or utilized by the trustee in determining the amount that is distributed or required to be distributed to a beneficiary.  (Added to NRS by 2015, 3540; A 2017, 1694)
NV Rev Stat § 163.620 (2021)
2021 Nevada Revised Statutes|Chapter 163 - Trusts|NRS 163.620 - Admissibility of video recording or electronic record.

Subject to the provisions of any applicable court rules, a video recording or other electronic record may be admissible as evidence of:  1. The proper execution of a trust.  2. The intentions of a settlor.  3. The mental state or capacity of a settlor.  4. The authenticity of a trust.  5. Matters that are determined by a court to be relevant to the administration of a trust.  (Added to NRS by 2017, 3443)
NV Rev Stat § 164.005 (2021)
2021 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.

When not otherwise inconsistent with the provisions of chapters 162 to 167, inclusive, of NRS, all of the provisions of chapters 132, 153 and 155 of NRS regulating the matters of estates:  1. Apply to proceedings relating to trusts, as appropriate; or  2. May be applied to supplement the provisions of chapters 162 to 167, inclusive, of NRS.  (Added to NRS by 2001, 2351)
NV Rev Stat § 164.021 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|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.

  1. When a revocable trust becomes irrevocable because of the death of a settlor or by the express terms of the trust, the trustee may, after the trust becomes irrevocable, provide notice to any beneficiary of the irrevocable trust, any heir of the settlor or to any other interested person.   2. The notice provided by the trustee must contain:  (a) The identity of the settlor of the trust and the date of execution of the trust instrument;  (b) The name, mailing address and telephone number of any trustee of the trust;  (c) Any provision of the trust instrument which pertains to the beneficiary or notice that the heir or interested person is not a beneficiary under the trust;  (d) Any information required to be included in the notice expressly provided by the trust instrument; and  (e) A statement set forth in a separate paragraph, in 12-point boldface type or an equivalent type which states: "You may not bring an action to contest the trust more than 120 days from the date this notice is served upon you."  3. The trustee shall serve the notice pursuant to the provisions of NRS 155.010.  4. No person upon whom notice is served pursuant to this section may bring an action to contest the validity of the trust more than 120 days from the date the notice is served upon the person, unless the person proves that he or she did not receive actual notice.  (Added to NRS by 2009, 794; A 2011, 1469)
NV Rev Stat § 164.030 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.030 - Petition for instructions: Notice; hearing; final order; appeal.

  1. Any trustee whose appointment has been confirmed, as provided in NRS 164.010, at any time thereafter may petition the court for instructions in the administration of the trust or for a construction of the trust instrument, or upon or after the filing of a final account, for the settlement and allowance thereof.  2. Upon the filing of the petition the court shall make an order fixing a time and place for hearing thereof, unless hearing has been waived in writing by the beneficiaries of the trust.  3. Unless otherwise ordered by the court, notice of the hearing must be given as follows:  (a) The clerk shall set the petition for hearing;  (b) The petitioner must give notice stating the filing of the petition and the object and time of the hearing to all persons entitled to notice as provided in NRS 155.010; and  (c) The trustee filing such petition shall cause a copy of the order to be delivered to the beneficiaries of the trust as follows:  (1) By handing the notice or copy to the beneficiary personally or to the beneficiary’s guardian, or attorney of record; or  (2) By sending it by registered or certified mail with return receipt requested to such beneficiary, or the beneficiary’s guardian or attorney of record, at the last known address of the addressee.  4. Upon the hearing the court shall make such order as it deems appropriate, which order is final and conclusive as to all matters thereby determined and binding in rem upon the trust estate and upon the interests of all beneficiaries, vested or contingent, except that appeal to the appellate court of competent jurisdiction pursuant to the rules fixed by the Supreme Court pursuant to Section 4 of Article 6 of the Nevada Constitution may be taken from the order within 30 days from the entry thereof by filing notice of appeal with the clerk of the district court, who shall mail a copy of the notice to each adverse party who has appeared of record.  [3:22:1953] — (NRS A 1967, 354; 1969, 95, 484; 1971, 1998; 1997, 1495; 2013, 1750)
NV Rev Stat § 164.033 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.033 - Petition concerning conveyance, transfer or delivery of property of trust; notice of hearing; order; appeal.

  1. The trustee or an interested person may petition the court to enter an order:  (a) If the trustee is in possession of, or holds title to, property and the property or an interest in it is claimed by another.  (b) If the trustee has a claim to property and another holds title to or is in possession of the property.  (c) If property of the trust is subject to a claim of a creditor of the settlor of the trust.  2. The court shall not grant a petition under this section if it determines that the matter should be determined by civil action.  3. The petition must state facts showing that it is authorized under this section, the grounds of the petition, and the name and address of each person entitled to notice of the petition.  4. Upon the filing of the petition, the clerk shall set it for hearing and the petitioner shall give notice of the hearing, at least 30 days before the time set, to:  (a) All interested persons, including the Attorney General if the petition relates to a charitable trust, in the manner provided in NRS 155.010.  (b) Each person claiming an interest in, or having title to or possession of the property, and any other person whose right, title or interest in or to the property would be affected by the granting of the petition, in the manner provided in NRS 155.040.  (c) Any other person, and in the manner, directed by the court.  5. Except as otherwise provided in subsection 2, if the court is satisfied that a conveyance, transfer, delivery or other disposition should be made, the court shall enter an order directing the trustee or other person having title to or possession of the property to convey, transfer or deliver it to the person entitled thereto or granting other appropriate relief.  6. Any person aggrieved by an order entered pursuant to this section may appeal to the appellate court of competent jurisdiction pursuant to the rules fixed by the Supreme Court pursuant to Section 4 of Article 6 of the Nevada Constitution within 30 days after the notice of the entry of the order by filing a notice of appeal with the clerk of the district court. The appellant shall mail a copy of the notice to each person who has appeared of record.  (Added to NRS by 1999, 2376; A 2013, 1751)
NV Rev Stat § 164.037 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.037 - Petitions: Notice and hearing.

Except as otherwise provided in NRS 164.033, the clerk shall set a petition authorized by this chapter for hearing, and the petitioner shall give notice to all interested persons for the period and in the manner provided in NRS 155.010. The notice must state the filing of the petition, the object and the time of the hearing. For the purposes of this section, "interested person" means a settlor, trustee, beneficiary or any other person to whom the court directs that notice be given.  (Added to NRS by 1999, 2375)
NV Rev Stat § 164.040 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.040 - Power or jurisdiction of court not abridged; court may take action necessary or proper to dispose of matter presented by petition.

  1. NRS 164.010 and 164.015 do not limit or abridge the power or jurisdiction of the district court over trusts and trustees.  2. The court may enter any order or take any other action necessary or proper to dispose of the matters presented by a petition, including the appointment of a temporary trustee to administer the trust in whole or in part.  [4:22:1953] — (NRS A 1999, 2378; 2001, 164)
NV Rev Stat § 164.043 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.043 - Expenses and compensation of trustees.

  1. The expenses and compensation of a trustee of a nontestamentary trust must initially be governed by the terms of the nontestamentary trust. Thereafter, subject to any contrary terms of the nontestamentary trust, the court shall allow the trustee his or her proper expenses and such compensation for services as are just and reasonable.  2. Where there are several trustees, compensation must be apportioned among the trustees according to the respective services rendered, and such compensation may be:  (a) A fixed yearly compensation for each trustee;  (b) A set amount for the term of service;  (c) An hourly rate for services rendered; or  (d) Pursuant to a standard schedule of fees.   3. The provisions of 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 review and settle the expenses and compensation of the trustee of a testamentary trust upon the petition of any interested person.  4. As used in this section, "nontestamentary trust" has the meaning ascribed to it in NRS 163.0016.  (Added to NRS by 2019, 1869)
NV Rev Stat § 164.045 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.045 - Circumstances under which laws of this State govern trusts; change of situs to this State.

  1. The laws of this State govern the validity and construction of a trust if:  (a) The trust instrument so provides;  (b) Designated by a person who, under the terms of the trust instrument, has the right to designate the laws that govern the validity and construction of the trust, at the time the designation is made; or  (c) The trust instrument does not provide for the law that governs the validity and construction of the trust, a person designated under the terms of the trust instrument to designate the law that governs the validity and construction of the trust, if any, has not made such a designation and the settlor or the trustee of the trust was a resident of this State at the time the trust was created or at the time the trust became irrevocable.  2. A person not domiciled in this State may have the right to designate the laws that govern the validity and construction of a trust if properly designated under the trust instrument.  3. A trust, the situs of which is outside this State, that moves its situs to this State is valid whether or not the trust complies with the laws of this State at the time of its creation or after its creation.  (Added to NRS by 2015, 3548; A 2017, 1696; 2019, 1872)
NV Rev Stat § 164.067 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.067 - Power to sell, convey or encumber.

  1. When title to real or personal property is taken in the name of a trustee, the trustee has the power to sell, convey or encumber that property unless the deed or conveyance to the trustee specifically limits the power of the trustee to do so.  2. This section applies to property acquired by a trustee on or after July 1, 1979.  (Added to NRS by 1979, 408)
NV Rev Stat § 164.070 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.070 - Short title.

NRS 164.070 to 164.100, inclusive, may be cited as the Uniform Common Trust Fund Act.  [1:21:1955] — (NRS A 1999, 2379)
NV Rev Stat § 164.080 (2021)
2021 Nevada Revised Statutes|Chapter 164 - Administration of Trusts|NRS 164.080 - Establishment; investments; management.

  1. Any bank or trust company qualified to act as fiduciary in this State, or in any other state if affiliated with a bank or trust company qualified to act as fiduciary in this State, may:  (a) Establish common trust funds to furnish investments to itself and its affiliated bank or trust company as fiduciary or to itself, its affiliated bank or trust company and others, as cofiduciaries; and  (b) As fiduciary or cofiduciary, invest money which it lawfully holds for investment in interests in those common trust funds, if the investment is not prohibited by the instrument, judgment, decree or order creating the fiduciary relationship, and if, in the case of cofiduciaries, the bank or trust company procures the consent of its cofiduciaries to the investment.  2. Any bank or trust company, qualified to act as fiduciary in the state in which it was chartered, which is not a member of the Federal Reserve System shall, in the operation of the common trust fund, comply with the regulations adopted by the supervisor of banking in the state in which it was chartered and with the regulations adopted by the commissioner of financial institutions in this State.  3. The Commissioner of Financial Institutions of the Department of Business and Industry may adopt regulations to carry out the provisions of NRS 164.070 to 164.100, inclusive.  4. As used in this section, "affiliated" means two or more banks or trust companies:  (a) In which at least 25 percent of their voting shares, excluding shares owned by the United States or by any company wholly owned by the United States, are directly or indirectly owned or controlled by a holding company; or  (b) In which the election of a majority of the directors is controlled in any manner by a holding company.  [2:21:1955] — (NRS A 1985, 972; 1987, 1875; 1993, 1510; 1999, 2379)