§ 166.180 — Trust administered under laws of another state or foreign jurisdiction

Nevada § 166.180

• Jurisdiction: Nevada
• Title 13: GUARDIANSHIPS; CONSERVATORSHIPS; TRUSTS
• Ch. 166: Spendthrift

Text

1. A trust administered under the laws of another state, or under the laws of a foreign jurisdiction, is a spendthrift trust pursuant to this chapter if:
(a) The trustee of the trust complies with any requirements set forth in the trust instrument and any requirements of the laws of the state or jurisdiction from which the trust is being transferred;
(b) The trustee or other person having the power to transfer the domicile of the trust declares such intent to transfer in writing;
(c) The writing declaring the intent to transfer the domicile of the trust is delivered to the trustee, if it is executed by a person other than the trustee; and
(d) All requirements of this chapter are satisfied simultaneously with, or immediately after, the change of domicile.
2. For purposes of NRS 166.170 , if the domicile of an existing trust is transferred from another state or from a foreign jurisdiction to this State and the laws of the other state or jurisdiction are similar to the provisions of this chapter, the transfer shall be deemed to have occurred:
(a) On the date on which the settlor of the trust transferred assets into the trust if the applicable law of the trust has at all times been substantially similar to the provisions of this chapter; or
(b) On the earliest date on which the applicable laws of the trust were substantially similar to the provisions of this chapter.

Legislative History

(Added to NRS by 2011, 1479 )