Nevada § 111.769 - Revocation of beneficiary designation: Authorized unless expressly made irrevocable; agreement of all owners; effect of subsequent designations or transfers; effective date

§ 111.769. Revocation of beneficiary designation: Authorized unless expressly made irrevocable; agreement of all owners; effect of subsequent designations or transfers; effective date

1. Unless a beneficiary designation is expressly made irrevocable, a beneficiary designation

may be revoked or changed in whole or in part during the lifetime of the owner. A revocation or change of a beneficiary designation involving property of joint

owners may only be made with the agreement of all owners then living. 2. A subsequent beneficiary designation revokes a previous beneficiary designation

unless the subsequent beneficiary designation expressly provides otherwise. 3. A revocation or change in a beneficiary designation must comply with the terms

of the governing instrument, the rules of the transferring entity and the applicable

law. 4. A beneficiary designation may not be revoked or changed by the provisions of a

will unless the beneficiary designation expressly grants the owner the right to revoke

or change a beneficiary designation by will. If a beneficiary designation is revoked by will, it must be revoked by an express

provision in the will and extrinsic evidence is not admissible to establish the testator's

intent concerning the beneficiary designation. 5. A transfer during the owner's lifetime of the owner's interest in property, with

or without consideration, terminates the beneficiary designation with respect to the

property transferred. 6. The effective date of a revocation or change in a beneficiary designation must

be determined in the same manner as the effective date of a beneficiary designation.