NRS 164.930 – Enforceability of certain arbitration provisions; presumption in favor of binding arbitration; appointment of guardian ad litem; contents of arbitration provisions.
1. A provision in a will or trust instrument requiring the arbitration of disputes other than disputes of the validity of all or a part of a will or trust, between or among one or more beneficiaries or fiduciaries under the will or trust, a settlor of a nontestamentary trust, or any combination of such […]
NRS 164.940 – Nonjudicial settlement agreements: Enforceability; when void; matters that may be resolved.
1. Except as otherwise provided in this section, a settlement agreement entered into by all indispensable parties, as described in subsection 1 of NRS 164.942 is enforceable with respect to the administration of a trust without approval by the court, as defined in NRS 132.116. 2. A nonjudicial settlement agreement is void to the extent […]
NRS 164.942 – Nonjudicial settlement agreements: When effective; providing objections; notice of proposed action; failure to object constitutes acceptance; petitioning court for approval.
1. Except as otherwise provided in this section, a nonjudicial settlement agreement is effective when the agreement has been signed by all indispensable parties. A party who is represented by another person pursuant to NRS 164.038 shall be deemed to have signed an agreement when the person who represents that party has signed the agreement. […]
NRS 164.950 – Distribution by trustee of community property in nontestamentary trust established by married settlors.
1. If two settlors who are married establish a nontestamentary trust jointly, and the trust provides for the pecuniary or fractional division of the community property held by the settlors upon the death of one of the settlors, the trustee has the authority to distribute the community property unless the trust instrument expressly provides otherwise. […]
NRS 164.960 – Applicability of NRS 111.781 to transfers of property made pursuant to trust.
The provisions of NRS 111.781 concerning the revocation of certain transfers based upon divorce or annulment apply to transfers of property made pursuant to a trust. (Added to NRS by 2011, 1469)
NRS 164.925 – Adjustments between principal and income to offset shifting economic interests or tax benefits between income beneficiaries and remainder beneficiaries; reimbursement of principal if estate taxes are increased and income taxes are decreased under certain circumstances.
1. A fiduciary may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from: (a) Elections and decisions, other than those described in subsection 2, that the fiduciary makes from time to time regarding tax matters; (b) An income tax […]
NRS 164.875 – Allocation of receipts from interest in minerals to income or to income and principal; allocation of receipts from interest in water to income or to income and principal; applicability.
1. To the extent that a trustee accounts for receipts from an interest in minerals or other natural resources pursuant to this section, the trustee shall allocate them as follows: (a) If received as nominal delay rental or nominal annual rent on a lease, a receipt must be allocated to income. (b) If received from […]
NRS 164.880 – Allocation of net receipts from sale of timber and related products to income or principal, or both; applicability.
1. To the extent that a trustee accounts for receipts from the sale of timber and related products pursuant to this section, the trustee shall allocate the net receipts: (a) To income to the extent that the amount of timber removed from the land does not exceed the rate of growth of the timber during […]
NRS 164.885 – Request of spouse if marital deduction is allowed and amounts transferred from principal to income and distributed are insufficient to obtain marital deduction; proceeds from sale or disposition of assets generally principal.
1. If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the surviving spouse with sufficient income from or use of the trust assets, and if the amounts that the trustee transfers from principal to income under NRS 164.795 and distributes to […]
NRS 164.890 – Allocation of receipts from and disbursements made in connection with transactions in derivatives to principal; allocation of amount received for granting certain options to principal.
1. As used in this section, “derivative” means a contract of financial instrument or a combination of contracts and financial instruments which gives a trust the right or obligation to participate in some or all changes in the price of a tangible or intangible asset or group of assets, or changes in a rate, an […]