Sections
General Provisions 165.010 – 165.020
List of Assets 165.030
Accounts 165.1201 – 165.148
Power of Appointment 165.149
Administration and Enforcement 165.150 – 165.240
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Terms Used In Nevada Revised Statutes > Chapter 165 - Trustees' Accounting (Uniform Act)

  • 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.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • 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

  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Consumer lease: means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is a natural person and who takes under the lease primarily for a personal, family or household purpose. See Nevada Revised Statutes 104A.2103
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • controlled substance: means a drug, immediate precursor or other substance which is listed in schedule I, II, III, IV or V for control by the State Board of Pharmacy pursuant to NRS 453. See Nevada Revised Statutes 0.031
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Current beneficiary: means a distribution beneficiary to whom or for whose benefit the trustee is authorized or required to make distributions of income or principal at any time during the accounting period. See Nevada Revised Statutes 165.020
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Dependent: A person dependent for support upon another.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • Distribution beneficiary: has the meaning ascribed to it in NRS 163. See Nevada Revised Statutes 165.020
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fraud: Intentional deception resulting in injury to another.
  • Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (NRS 104A. See Nevada Revised Statutes 104A.2103
  • Grantor: The person who establishes a trust and places property into it.
  • 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.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • 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.
  • Lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See Nevada Revised Statutes 104A.2103
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lease contract: means the total legal obligation that results from the lease agreement as affected by this Article and any other applicable rules of law. See Nevada Revised Statutes 104A.2103
  • Lessee: means a person who acquires the right to possession and use of goods under a lease. See Nevada Revised Statutes 104A.2103
  • Lessor: means a person who transfers the right to possession and use of goods under a lease. See Nevada Revised Statutes 104A.2103
  • 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.
  • physician: means a person who engages in the practice of medicine, including osteopathy and homeopathy. See Nevada Revised Statutes 0.040
  • population: means the number of people in a specified area as determined by the last preceding national decennial census conducted by the Bureau of the Census of the United States Department of Commerce pursuant to Section 2 of Article I of the Constitution of the United States and reported by the Secretary of Commerce to the Governor pursuant to 13 U. See Nevada Revised Statutes 0.050
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Probate: Proving a will
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Quorum: The number of legislators that must be present to do business.
  • 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
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • substantial bodily harm: means :

    1. See Nevada Revised Statutes 0.060

  • Successor trustee: means a successor to the acting trustee or substitute trustee named or appointed to succeed a predecessor trustee who has not yet assumed the role of trustee. See Nevada Revised Statutes 165.020
  • Summons: Another word for subpoena used by the criminal justice system.
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Testamentary trustee: means a trustee serving under a trust created by a will of a testator domiciled in this state at the time of the testator"s death, whose will has been admitted to probate in this state, whether the trustee was appointed by the testator or by a court or other authority. See Nevada Revised Statutes 165.020
  • Testator: A male person who leaves a will at death.
  • Testify: Answer questions in court.
  • 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
  • Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.