Nevada § 162A.550 - Estates, trusts and other beneficial interests

§ 162A.550. Estates, trusts and other beneficial interests

1. Unless the power of attorney otherwise provides, language in a power of attorney

granting general authority with respect to estates, trusts and other beneficial interests

authorizes the agent to: (a) Accept, receive, receipt for, sell, assign, pledge or exchange a share in or payment

from the fund; (b) Demand or obtain money or another thing of value to which the principal is, may

become or claims to be entitled by reason of the fund, by litigation or otherwise; (c) Exercise for the benefit of the principal a presently exercisable general power

of appointment held by the principal; (d) Initiate, participate in, submit to alternative dispute resolution, settle, oppose,

propose or accept a compromise with respect to litigation to ascertain the meaning,

validity or effect of a deed, will, declaration of trust, or other instrument or transaction

affecting the interest of the principal; (e) Initiate, participate in, submit to alternative dispute resolution, settle, oppose,

propose or accept a compromise with respect to litigation to remove, substitute or

surcharge a fiduciary; (f) Conserve, invest, disburse or use anything received for an authorized purpose;

and (g) Transfer an interest of the principal in real property, stocks and bonds, accounts

with financial institutions or securities intermediaries, insurance, annuities and

other property to the trustee of a revocable trust created by the principal as settlor

or grantor. 2. As used in this section, “ estates, trusts and other beneficial interests ” means a trust, probate estate, escrow, custodianship or fund from which the principal

is, may become or claims to be entitled to a share or payment.