NRS 163.590 Disposition of trust property by reference to statement or list; requirements for admissibility of statement or list as evidence of intended disposition; uses of statement or list.
321 words·~1 min read·
/nv/chapter-163-trusts/163-590A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
NRS 163.590 Disposition of trust property by reference to statement or list; requirements for admissibility of statement or list as evidence of intended disposition; uses of statement or list.
1. Whether or not the provisions relating to electronic trusts apply, a trust may refer to a written statement or list, including, without limitation, a written statement or list contained in an electronic record, to dispose of items of trust property not otherwise specifically disposed of by the trust.
2. To be admissible as evidence of the intended disposition, the statement or list must contain:
(a)The date of its execution.
(b)A title indicating its purpose.
(c)A reference to the trust to which it relates.
(d)A reasonably certain description of the items to be disposed of and the beneficiaries.
(e)The handwritten signature or electronic signature of the settlor.
3. The statement or list may be:
(a)Referred to as a writing to be in existence at the death of the settlor.
(b)Prepared before or after the execution of the trust instrument.
(c)Altered by the settlor after its preparation.
(d)A writing which has no significance apart from its effect upon the dispositions made by the trust.
4. Except as otherwise provided in this subsection, the statement or list may be used to dispose of all items of trust property, regardless of whether the trust property is real or personal property or tangible or intangible property. The trust instrument may limit the use of the statement or list so that the statement or list:
(a)Is expressly limited to tangible personal property;
(b)Cannot be used to direct the disposition of trust property that is above a value specified by the trust instrument; or
(c)Is not applicable to certain types of property, including, without limitation:
(1)Money;
(2)Evidences of indebtedness;
(3)Documents of title;
(4)Securities; and
(5)Property used in a trade or business.