Nevada Revised Statutes 163.027 – Distribution of property or money of trust: Powers of trustee; manner; consent of affected beneficiaries required for distribution without proration under certain circumstances
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1. Except as otherwise provided in subsection 2 or in the trust, a trustee may distribute property and money:
Terms Used In Nevada Revised Statutes 163.027
- 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
- Trustee: A person or institution holding and administering property in trust.
(a) In divided or undivided interests; and
(b) With or without proration.
2. Each affected beneficiary must consent before property or money is distributed without proration unless the trust specifically authorizes the trustee to make that distribution or the distribution is otherwise authorized by law.