Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2021 | Updated by FindLaw Staff
1. Except as otherwise provided in this section, a settlement agreement entered into by all indispensable parties, as described in subsection 1 of NRS 164.942 is enforceable with respect to the administration of a trust without approval by the court, as defined in NRS 132.116.
2. A nonjudicial settlement agreement is void to the extent it violates a material purpose of the trust and to the extent it includes terms and conditions that could not be properly approved by the court, as defined in NRS 132.116, under the law governing the trust instrument.
3. Matters that may be resolved by a nonjudicial settlement agreement include, without limitation:
(a) The investment or use of trust assets;
(b) The lending or borrowing of money;
(c) The addition, deletion or modification of a term or condition of the trust;
(d) The interpretation or construction of a term of the trust;
(e) The designation or transfer of the principal place of administration of the trust;
(f) The approval of a trustee's report or accounting;
(g) The choice of law governing the construction of the trust instrument or administration of the trust, or both;
(h) Direction to a trustee to perform or refrain from performing a particular act;
(i) The granting of any necessary or desirable power to a trustee;
(j) The resignation or appointment of a trustee and the determination of a trustee's compensation;
(k) The merger or division of trusts;
(l) The granting of approval or authority, for a trustee to make charitable gifts from a noncharitable trust;
(m) The transfer of a trust's principal place of administration;
(n) Negating the liability of a trustee for an action relating to the trust and providing indemnification therefor; and
(o) The termination of the trust.
Cite this article: FindLaw.com - Nevada Revised Statutes Title 13. Guardianships; Conservatorships; Trusts § 164.940. Nonjudicial settlement agreements: Enforceability; when void; matters that may be resolved - last updated January 01, 2021 | https://codes.findlaw.com/nv/title-13-guardianships-conservatorships-trusts/nv-rev-st-164-940/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)