Nevada Revised Statutes 41B.090 – ‘Governing instrument’ defined
‘Governing instrument’ means any of the following:
Terms Used In Nevada Revised Statutes 41B.090
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Executor: A male person named in a will to carry out the decedent
- Fiduciary: A trustee, executor, or administrator.
- 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.
- Intestate: Dying without leaving a will.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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
- 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
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Trustee: A person or institution holding and administering property in trust.
1. A deed or any other instrument that transfers any property, interest or benefit.
2. An annuity or a policy of insurance.
3. A trust, whether created by an instrument executed during the life of the settlor, a testamentary instrument or any other instrument, judgment or decree, including, without limitation, any of the following:
(a) An express trust, whether private or charitable, and any additions to such a trust.
(b) A trust created or determined by a judgment or decree under which the trust is to be administered in the manner of an express trust.
4. A will, a codicil or any other testamentary instrument, including, without limitation, a testamentary instrument that:
(a) Appoints a person to serve in a fiduciary or representative capacity, nominates a guardian or revokes or revises another will, codicil or testamentary instrument; or
(b) Excludes or limits the right of a person or class of persons to succeed to any property, interest or benefit pursuant to the laws of intestate succession.
5. Any account or deposit that is payable or transferable on the death of a person or any instrument that provides for the payment or transfer of any property, interest or benefit on the death of a person.
6. A security registered as transferable on the death of a person.
7. Any instrument creating or exercising a power of appointment or a durable or nondurable power of attorney.
8. Any instrument that appoints or nominates a person to serve in any fiduciary or representative capacity, including, without limitation, an agent, guardian, executor, personal representative or trustee.
9. Any public or private plan or system that entitles a person to the payment or transfer of any property, interest or benefit, including, without limitation, a plan or system that involves any of the following:
(a) Pension benefits, retirement benefits or other similar benefits.
(b) Profit-sharing or any other form of participation in profits, revenues, securities, capital or assets.
(c) Industrial insurance, workers’ compensation or other similar benefits.
(d) Group insurance.
10. A partnership agreement or an agreement concerning any joint adventure, enterprise or venture.
11. A premarital, antenuptial or postnuptial agreement, a marriage contract or settlement or any other similar agreement, contract or settlement.
12. Any instrument that declares a homestead pursuant to chapter 115 of NRS.
13. Any other dispositive, appointive, nominative or declarative instrument.