Nevada § 153.090 - Declination or resignation of person named or designated trustee: Procedure

§ 153.090. Declination or resignation of person named or designated trustee: Procedure

1. A person named or designated as a trustee of a testamentary trust in a will may,

at any time before distribution of any of the estate to the person, decline to act

as trustee, and an order of court must be entered accepting the resignation, but the

declination of any person who has qualified as trustee may not be accepted by the

court unless the testamentary trust is subject to ongoing court jurisdiction pursuant

to NRS 153.020 and a petition to accept the declination is filed in the proceeding for administration

of the testamentary trust. Upon the filing of the petition, the clerk shall set it for hearing and the petitioner

shall give notice to all interested persons for the period and in the manner provided

in NRS 155.010 . 2. A person named or designated as a trustee of a testamentary trust in a will that

is no longer subject to ongoing court jurisdiction may resign as trustee in accordance

with the terms of the testamentary trust or will which created the testamentary trust

or, if the testamentary trust or will is silent on the matter, may seek court approval

of such resignation in conjunction with a petition under NRS 164.010 or 164.030 . 3. In accepting a declination or resignation, the court may enter and enforce any

order which may be necessary for the preservation of the estate.