Nevada Revised Statutes 165.1204 – Applicability to nontestamentary trusts; general duties of trustee
Current as of: 2022 | Check for updates
|
Other versions
1. The trustee of a nontestamentary trust has a duty to account for the trust estate in accordance with the provisions of NRS 165.1201 to 165.148, inclusive.
Terms Used In Nevada Revised Statutes 165.1204
- 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
- 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
2. The trustee of a nontestamentary trust shall satisfy the duty to account by delivery of an account in the form, manner and to the persons as required by the terms and conditions stated in the trust instrument.