NRS 166A.220
Multiple beneficiaries

  • separate custodial trusts
  • survivorship.

1.

Beneficial interests in a custodial trust created for multiple beneficiaries are deemed to be separate custodial trusts of equal undivided interests for each beneficiary. Except in a transfer or declaration for use and benefit of a married couple, for whom survivorship is presumed, a right of survivorship does not exist unless the instrument creating the custodial trust specifically provides for survivorship or survivorship is required as to community or marital property.

2.

Custodial trust property held under this chapter by the same custodial trustee for the use and benefit of the same beneficiary may be administered as a single custodial trust.

3.

A custodial trustee of custodial trust property held for more than one beneficiary shall separately account to each beneficiary pursuant to NRS 166A.230 and 166A.310 for the administration of the custodial trust.

Source: Section 166A.220 — Multiple beneficiaries; separate custodial trusts; survivorship., https://www.­leg.­state.­nv.­us/NRS/NRS-166A.­html#NRS166ASec220.

166A.010
Short title. 166A.020
Definitions. 166A.030
“Adult” defined. 166A.040
“Beneficiary” defined. 166A.050
“Conservator” defined. 166A.060
“Court” defined. 166A.070
“Custodial trust property” defined. 166A.080
“Custodial trustee” defined. 166A.090
“Guardian” defined. 166A.100
“Incapacitated” defined. 166A.110
“Legal representative” defined. 166A.120
“Member of the beneficiary’s family” defined. 166A.130
“Person” defined. 166A.140
“Personal representative” defined. 166A.150
“State” defined. 166A.160
“Transferor” defined. 166A.170
“Trust company” defined. 166A.180
Custodial trust 166A.190
Custodial trustee for future payment or transfer. 166A.200
Form and effect of receipt and acceptance by custodial trustee 166A.210
Transfer to custodial trustee by fiduciary or obligor 166A.220
Multiple beneficiaries 166A.230
General duties of custodial trustee. 166A.240
General powers of custodial trustee. 166A.250
Use of custodial trust property. 166A.260
Determination of incapacity 166A.270
Exemption of third person from liability. 166A.280
Liability to third person. 166A.290
Declination, resignation, incapacity, death or removal of custodial trustee 166A.300
Expenses, compensation and bond of custodial trustee. 166A.310
Reporting and accounting by custodial trustee 166A.320
Limitations of action against custodial trustee. 166A.330
Distribution on termination. 166A.340
Methods and forms for creating custodial trusts. 166A.350
Applicable law. 166A.360
Uniformity of application and construction.
Last Updated

Feb. 5, 2021

§ 166A.220’s source at nv​.us