Nevada Statutes

§ 164.799 — Trustee or beneficiary authorized to petition court to take certain actions concerning unitrust

Nevada § 164.799

JurisdictionNevada

Title 13GUARDIANSHIPS; CONSERVATORSHIPS; TRUSTS

Ch. 164Administration

Principal and Income (Uniform Act)

This text of Nevada § 164.799 (Trustee or beneficiary authorized to petition court to take certain actions concerning unitrust) 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. § 164.799 (2026).

Text

A trustee or a beneficiary of a unitrust may petition the court to:

1.Select an income distribution percentage different from 3 to 5 percent.

2.Provide for a distribution of net income as would be determined if the trust were not a unitrust, in excess of the unitrust distribution if such distribution is necessary to preserve a tax benefit.

3.Average the value of the trust assets over a period other than 3 years.

4.Reconvert a unitrust to a trust.

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A trustee or a beneficiary of a unitrust may petition the court to:
1. Select an income distribution percentage different from 3 to 5 percent.
2. Provide for a distribution of net income as would be determined if the trust were not a unitrust, in excess of the unitrust distribution if such distribution is necessary to preserve a tax benefit.
3. Average the value of the trust assets over a period other than 3 years.
4. Reconvert a unitrust to a trust.

Legislative History

(Added to NRS by 2009, 798 )

Nearby Sections

15

§ 164.005

Applicability of provisions of chapters 132, 153 and 155 of NRS regulating matters of estates

§ 164.010

Petition for assumption of jurisdiction; circumstances in which jurisdiction is proper in this State; determination of venue; powers of court; petition for removal of trust from jurisdiction of court

§ 164.015

Petition concerning internal affairs of nontestamentary trust; jurisdiction of court; procedure for contests of certain trusts; final order; appeal

§ 164.021

Notice by trustee to beneficiary concerning change of revocable trust to irrevocable trust; contents of notice; limitation of action to contest validity of trust; exceptions

§ 164.025

Notice of death of settlor; filing of claim against settlor, trust estate or settlor and trust estate; effect of failure to file claim; notice to Department of Health and Human Services; notice of rejected claim; effect of failure to bring suit after notice of rejected claim

§ 164.030

Petition for instructions: Notice; hearing; final order; appeal

§ 164.033

Petition concerning conveyance, transfer or delivery of property of trust; notice of hearing; order; appeal

§ 164.037

Petitions: Notice and hearing

§ 164.038

Circumstances under which certain persons are authorized to be represented by persons with similar interests in proceedings concerning administration of trust; binding results; representation by powerholder for permissible appointee or taker in default of appointment; representation by parent or guardian of beneficiary

§ 164.040

Power or jurisdiction of court not abridged; court may take action necessary or proper to dispose of matter presented by petition

§ 164.041

Confidential information: Redaction and sealing of information without prior court order in certain circumstances

§ 164.043

Expenses and compensation of trustees

§ 164.045

Circumstances under which laws of this State govern trusts; change of situs to this State

§ 164.067

Power to sell, convey or encumber

§ 164.070

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Bluebook (online)

Nevada § 164.799, Counsel Stack Legal Research, https://law.counselstack.com/statute/nv/164.799.