1. Except as otherwise provided by specific statute or any regulatory or contractual restrictions, a trust may be created by any of the following methods: (a) A declaration by the owner of property that he or she or another person holds the property as trustee. In the absence of a contrary declaration by the owner […]
A trust is created only if: 1. The settlor properly manifests an intention to create a trust; and 2. There is trust property, except as otherwise provided in NRS 163.230. (Added to NRS by 1991, 1704; A 1999, 2367)
1. Except as otherwise provided by law, the terms of a trust instrument may expand, restrict, eliminate or otherwise vary the rights and interests of beneficiaries in any manner that is not illegal or against public policy, including, without limitation: (a) The right to be informed of the beneficiary’s interest for a period of time; […]
Consideration is not required to create a trust, but a promise to create a trust in the future is enforceable only if it meets the requirements for enforcement as a contract. (Added to NRS by 1991, 1705)
A trust is created only if there is a beneficiary. This requirement is satisfied if the trust instrument provides for: 1. A beneficiary or class of beneficiaries that is ascertainable with reasonable certainty or that is sufficiently described so that it can be determined whether a person meets the description or is within the class; […]
If a trust provides for one or more successor beneficiaries after the death of the settlor, the trust is not invalidated, merged or terminated because: 1. There is one settlor who is the sole trustee and the sole beneficiary during the lifetime of the settlor; or 2. There are two or more settlors, one or […]
1. A trust created for the care of one or more animals that are alive at the time of the settlor’s death is valid. Such a trust terminates upon the death of all animals covered by the terms of the trust. A settlor’s expression of intent must be liberally construed in favor of the creation […]
1. A trust created in relation to real property is not valid unless it is created by operation of law or is evidenced by: (a) A written instrument signed by the trustee, or by the agent of the trustee if the agent is authorized in writing to do so; or (b) A written instrument, including, […]
1. The existence and terms of an oral trust of personal property may be established only by clear and convincing evidence. The oral declaration of the settlor, in and of itself, is not sufficient to establish the creation of such a trust. 2. A reference in statute to a trust instrument or declaration means, in […]
1. An electronic trust is a trust instrument that: (a) Is created and maintained in an electronic record in such a manner that any alteration thereto is detectable; (b) Contains the electronic signature of the settlor and the date and time thereof; (c) Includes, without limitation, an authentication method which is attached to or logically […]
