Terms Used In Nevada Revised Statutes > Chapter 432B > Civil Proceedings > Person Legally Responsible for Psychiatric Care of Child

• Account: means a report of the financial condition of the trust estate prepared by a trustee which:

  (1) Must include the information set forth in NRS 165. See Nevada Revised Statutes 165.020

• Accounting period: means the period for which the trustee is accounting and, except as otherwise provided in this chapter, commencing with the first day following the previous accounting period and ending on the date specified by the trustee or on the date specified by the court if the account is ordered by the court. See Nevada Revised Statutes 165.020
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• 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}
• Broad power of appointment: means a power of appointment held by a person, commonly referred to as a power holder, that can be exercised in favor of:

  (1) The power holder, without any restriction or limitation; or

  (2) Any person other than one or more of the following:

  (I) The power holder;

  (II) The power holder"s estate;

  (III) The power holder"s creditors; or

  (IV) The creditors of the power holder"s estate. See Nevada Revised Statutes 165.020

• 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.
• Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Oversight: Committee review of the activities of a Federal agency or program.
• 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
• physician: means a person who engages in the practice of medicine, including osteopathy and homeopathy. See Nevada Revised Statutes 0.040
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Remote beneficiary: means a natural person or an entity whose interest in the trust estate is preceded by the priority interest of one or more current beneficiaries and one or more remainder beneficiaries, all of whose interests must be extinguished by death or pursuant to the terms of the trust instrument before the remote beneficiary may become a current beneficiary. See Nevada Revised Statutes 165.020
• Settlor: means the creator of a testamentary as well as a nontestamentary trust. See Nevada Revised Statutes 165.020
• Trust: means :

  (1) A trust as defined in NRS 163. See Nevada Revised Statutes 165.020

• Trustee: A person or institution holding and administering property in trust.
• Trustee: includes a nontestamentary trustee, a testamentary trustee and a corporate trustee, as well as a natural person. See Nevada Revised Statutes 165.020