NRS 163.115
Removal of trustee

  • maintenance of proceeding for breach of trust by trustee
  • permissible purposes for maintenance of proceeding
  • penalties for not filing petition in good faith
  • nonexclusivity of remedies
  • method of commencing proceeding.

1.

A settlor, cotrustee or beneficiary of the trust may request the court to remove a trustee, or a trustee may be removed by the court on its own motion pursuant to subsection 2.

2.

The court may remove a trustee if:

(a)

The trustee commits or threatens to commit a breach of trust;

(b)

Lack of cooperation between cotrustees substantially impairs the administration of the trust; or

(c)

Because of unfitness, unwillingness or persistent failure of the trustee to administer the trust effectively, the court determines that removal of the trustee best serves the interests of the settlor or beneficiaries.

3.

If a trustee commits or threatens to commit a breach of trust, a beneficiary or cotrustee of the trust may maintain a proceeding for any of the following purposes that is appropriate:

(a)

To compel the trustee to perform his or her duties.

(b)

To enjoin the trustee from committing the breach of trust.

(c)

To compel the trustee to redress the breach of trust by payment of money or otherwise.

(d)

To appoint a receiver or temporary trustee to take possession of the trust property and administer the trust.

(e)

To remove the trustee.

(f)

To set aside acts of the trustee.

(g)

To reduce or deny compensation of the trustee.

(h)

To impose an equitable lien or a constructive trust on trust property.

(i)

To trace trust property that has been wrongfully disposed of and recover the property or its proceeds.

4.

If the court determines that a proceeding instituted pursuant to subsection 1 by a settlor, cotrustee or beneficiary of the trust against a trustee was not instituted in good faith and based on probable cause, the court may order that the settlor, cotrustee or beneficiary who is maintaining the proceeding against a trustee pay all or part of the costs of the proceeding, including, without limitation, reasonable attorney’s fees. The provisions of this subsection do not preclude any other remedy available.

5.

The provisions of subsections 2 and 3 do not preclude resort to any other appropriate ground or remedy provided by statute or common law.

6.

A proceeding under this section must be commenced by filing or bringing in conjunction with the filing of a petition under NRS 164.010 and 164.015.

Source: Section 163.115 — Removal of trustee; maintenance of proceeding for breach of trust by trustee; permissible purposes for maintenance of proceeding; penalties for not filing petition in good faith; nonexclusivity of remedies; method of commencing proceeding., https://www.­leg.­state.­nv.­us/NRS/NRS-163.­html#NRS163Sec115.

163.010
Short title. 163.020
Definitions. 163.023
Powers of trustee. 163.025
Combining or dividing certain trusts. 163.026
Giving name to or changing name of certain trusts. 163.027
Distribution of property or money of trust: Powers of trustee 163.030
Loan of money held in trust. 163.040
Corporate trustee may deposit with self certain money held in trust. 163.050
Trustee buying from or selling to self or affiliate. 163.060
Trustee selling from one trust to self as trustee of another trust. 163.070
Purchase by corporate trustee of its own stocks, bonds or other securities for trust prohibited unless specifically authorized. 163.080
Voting stock. 163.090
Holding stock in name of nominee. 163.100
Powers of trustee attached to office. 163.110
Powers of cotrustees: Exercisable by majority if more than two cotrustees 163.115
Removal of trustee 163.117
Ex parte order restraining trustee from taking certain actions. 163.120
Claims based on certain contracts or obligations: Assertion against trust 163.130
Exoneration or reimbursement of trustee for tort. 163.140
Commission of tort by trustee or predecessor: Prerequisites to suit and collection from trust property 163.145
Using power to appoint or distribute income to discharge own legal obligation prohibited. 163.150
Withdrawal from mingled money of multiple trusts. 163.160
Power of settlor 163.170
Power of beneficiary. 163.180
Power of court. 163.185
Power of court to order termination and distribution of trust before time provided in trust instrument. 163.187
Termination of trust when value of trust property insufficient to justify cost of administration. 163.190
Penalty for violation of certain provisions of chapter. 163.200
Uniformity of interpretation.
Last Updated

Jun. 24, 2021

§ 163.115’s source at nv​.us