Nevada Revised Statutes 159A.197 – Delivery of physical possession of property of protected minor; petition to modify title to such property; handling property of deceased protected minor
1. After the winding up of the affairs of the guardianship, the guardian shall deliver physical possession of all of the protected minor’s property to the protected minor, the personal representative or the successor guardian, as the case may be, and obtain a receipt of the delivery of the property.
Terms Used In Nevada Revised Statutes 159A.197
- 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
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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.
2. Before the guardian delivers physical possession of the protected minor’s property to the personal representative and upon sufficient evidence of prior title, the guardian may petition the court to have the title to the property modified, on a pro rata basis, to reflect the manner in which title was held before the guardianship was established so that the property is distributed to the intended beneficiary or former joint owner of the property.
3. If the guardianship has terminated by reason of the death of the protected minor, the court, by order, may authorize the guardian to handle the deceased protected minor’s property in the same manner as authorized by NRS 146.070 or 146.080, if the gross value of the property, less encumbrances, and less fees, costs and expenses that are approved by the court, remaining in the hands of the guardian does not exceed the amount authorized pursuant to NRS 146.070 or 146.080.