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Code · Nevada · CHAPTER 163 - TRUSTS

NRS 163.006 Creation: Beneficiary.

141 words·~1 min read·/nv/chapter-163-trusts/163-006

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NRS 163.006 Creation: Beneficiary. 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;
2. A grant of power to the trustee or some other person to select the beneficiary based on a standard or in the discretion of the trustee or other person;
3. A charitable trust as defined in NRS 163.460 ;
4. A trust for the care of one or more animals created pursuant to NRS 163.0075 ;
5. A public benefit trust as defined in NRS 163.551 ; or
6. A noncharitable trust without an ascertainable beneficiary pursuant to NRS 163.5505 .
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