1. A family trust company may, but only for family members: (a) Act as a fiduciary within and outside this State as permitted by law and as consistent with the trust or will. (b) Act within and outside this State as advisory agent, agent, assignee, assignee for the benefit of creditors, attorney-in-fact, authenticating agent, bailee, […]
Any court of competent jurisdiction may appoint a guardian of the estate or guardian ad litem for persons who are adjudicated incapacitated or minors who are not residents of this State and who are family members or beneficiaries of a trust or an estate for which a family trust company or licensed family trust company […]
1. Except as otherwise provided in subsections 2 and 3, if specifically nominated in the trust instrument, one or more persons may be designated to represent and bind a beneficiary of a trust administered by a family trust company or licensed family trust company and to receive any notice, information, accounting or report regarding the […]
1. In addition to the transactions authorized by NRS 669A.230 and notwithstanding the provisions of any other law to the contrary, while acting as the fiduciary of a trust, a family trust company or licensed family trust company may: (a) Invest in a security of an investment company or investment trust for which the family […]
1. Except as otherwise provided in subsection 2, the assets forming the minimum capital of a licensed family trust company pursuant to NRS 669A.160 must: (a) Consist of: (1) Cash; (2) Governmental obligations or insured deposits that mature within 3 years after acquisition; (3) Readily marketable securities or other liquid, secure assets, bonds, sureties or […]
1. A family trust company or licensed family trust company and an interested person may enter into a nonjudicial settlement agreement with respect to any matter involving the management, administration or interpretation of a trust that is managed pursuant to this chapter. 2. A nonjudicial settlement agreement that is entered into pursuant to this section […]
1. A family trust company or licensed family trust company shall provide written notice by personal service or by certified mail to each interested person who is a necessary party to a nonjudicial settlement agreement entered into pursuant to NRS 669A.233. A family trust company or licensed family trust company is not required to provide […]
1. A family trust company or licensed family trust company may refrain from taking an action that is authorized by a nonjudicial settlement agreement if the family trust company or licensed family trust company determines in good faith that the action is not in the interest of the beneficiaries of the trust. 2. A family […]
Whenever a licensed family trust company desires to discontinue its business as a family trust company, it shall furnish to the Commissioner satisfactory evidence of its release and discharge from all the obligations and trusts which it has assumed or which have been imposed by law. Thereafter, the Commissioner shall enter an order cancelling the […]
1. The directors or managers of a licensed family trust company shall obtain fidelity bonds in such amounts as they shall determine on any active officers, managers, members acting in a managerial capacity and employees, whether or not they receive a salary or other compensation from the licensed family trust company, to indemnify the licensed […]
1. Except as otherwise provided in subsection 4, a family trust company or licensed family trust company, while acting as the fiduciary of a trust, shall provide an annual report to each beneficiary who is entitled to an account under the terms of the trust or applicable law for each year of the existence of […]
1. In any court proceeding relating to a trust or estate, the family trust company, licensed family trust company, other fiduciary of the trust, settlor or any beneficiary, may petition the court to order the following trust documents to be sealed: (a) Any trust instruments; (b) Any inventories; (c) Any accounts; (d) Any statements filed […]
1. Any communication between an attorney and a family trust company or licensed family trust company acting as a fiduciary is privileged and protected from disclosure to the same extent as if the client were acting in his or her individual capacity. 2. The privilege is not waived by: (a) A fiduciary relationship between the […]
