1.  A guardian of the estate shall take possession of:

Terms Used In Nevada Revised Statutes 159.089

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
  • Personal property: All property that is not real property.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).

(a) All of the property of substantial value of the protected person;

(b) Rents, income, issues and profits from the property, whether accruing before or after the appointment of the guardian; and

(c) The proceeds from the sale, mortgage, lease or other disposition of the property.

2.  The guardian may permit the protected person to have possession and control of the personal property and funds as are appropriate to the needs and capacities of the protected person.

3.  The title to all property of the protected person is in the protected person and not in the guardian.

4.  A guardian shall secure originals, when available, or copies of any:

(a) Contract executed by the protected person;

(b) Power of attorney executed by the protected person;

(c) Estate planning document prepared by the protected person, including, without limitation, a last will and testament, durable power of attorney and revocable trust of the protected person;

(d) Revocable or irrevocable trust in which the protected person has a vested interest as a beneficiary; and

(e) Writing evidencing a present or future vested interest in any real or intangible property.

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