Nevada § 163.557 Circumstances under which trustee is authorized to reimburse settlor for tax on trust income or principal

Nevada Statutes

§ 163.557 — Circumstances under which trustee is authorized to reimburse settlor for tax on trust income or principal

Nevada § 163.557

Title 13GUARDIANSHIPS; CONSERVATORSHIPS; TRUSTS

Ch. 163Trusts

DIRECTED TRUSTS

This text of Nevada § 163.557 (Circumstances under which trustee is authorized to reimburse settlor for tax on trust income or principal) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 163.557 (2026).

Text

1.A governing trust instrument may authorize the trustee, in the sole discretion of the trustee or at the direction or with the consent of a directing trust adviser, to reimburse a settlor for all or a portion of tax on trust income or principal that is payable by the settlor under the law imposing such tax. In the sole discretion of the trustee, the trustee may pay such amount to the settlor directly or to an appropriate taxing authority on behalf of the settlor.

2.A trustee or directing trust adviser is not liable to any person in exercising such discretion to reimburse or not reimburse a settlor for tax payable by the settlor on trust income or principal pursuant to subsection 1.

3.The power of a trustee to make a payment to or for the benefit of a settlor in accordance with subsecti

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1. A governing trust instrument may authorize the trustee, in the sole discretion of the trustee or at the direction or with the consent of a directing trust adviser, to reimburse a settlor for all or a portion of tax on trust income or principal that is payable by the settlor under the law imposing such tax. In the sole discretion of the trustee, the trustee may pay such amount to the settlor directly or to an appropriate taxing authority on behalf of the settlor.
2. A trustee or directing trust adviser is not liable to any person in exercising such discretion to reimburse or not reimburse a settlor for tax payable by the settlor on trust income or principal pursuant to subsection 1.
3. The power of a trustee to make a payment to or for the benefit of a settlor in accordance with subsection 1 or the decision of a trustee to exercise such power in favor of the settlor must not cause the settlor to be treated as a beneficiary for purposes of the laws of this State. As used in this subsection, “beneficiary” has the meaning ascribed to it in NRS 163.4147 .