167.025 - Transfer authorized in will or trust. - Nevada Statutes

167.025  Transfer authorized in will or trust.

      1.  A personal representative or trustee may make an irrevocable transfer pursuant to the provisions of this chapter to a custodian for the benefit of a minor as authorized in the governing will or trust.

      2.  If the testator or settlor has nominated a custodian to receive the custodial property, the transfer must be made to that person.

      3.  If the testator or settlor has not nominated a custodian, or all persons so nominated as custodian die before the transfer or are unable, decline or are ineligible to serve, the personal representative or the trustee shall designate the custodian from among those eligible to serve as custodian for property of that kind.

      (Added to NRS by 1985, 67)