Nevada § 163.004 - Creation: Terms; revocability; rules of construction
Full text of Nevada Nevada Revised Statutes § 163.004 — Creation: Terms; revocability; rules of construction, with citation guidance and answers to common questions.
§ 163.004. Creation: Terms; revocability; rules of construction
1. Except as otherwise provided by law, the terms of a trust instrument may expand,
restrict, eliminate or otherwise vary the rights and interests of beneficiaries in
any manner that is not illegal or against public policy, including, without limitation: (a) The right to be informed of the beneficiary's interest for a period of time; (b) The grounds for the removal of a fiduciary; (c) The circumstances, if any, in which the fiduciary must diversify investments; (d) A fiduciary's powers, duties, standards of care, rights of indemnification and
liability to persons whose interests arise from the trust instrument; and (e) The provisions of general applicability to trusts and trust administration. 2. A trust is irrevocable except to the extent that a right to revoke the trust is
expressly reserved by the settlor under the terms of the trust instrument. Any authority, power or right granted to any person other than the settlor under
the terms of the trust instrument or by law, including, without limitation, the power
or right to amend the trust, does not render or make a trust revocable. 3. Nothing in this section shall be construed to: (a) Authorize the exculpation or indemnification of a fiduciary for the fiduciary's
own willful misconduct or gross negligence; or (b) Preclude a court of competent jurisdiction from removing a fiduciary because of
the fiduciary's willful misconduct or gross negligence. 4. The rule that statutes in derogation of the common law are to be strictly construed
has no application to this section. This section must be liberally construed to give maximum effect to the principle
of freedom of disposition and to the enforceability of trust instruments.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 163.004
What does Nevada Revised Statutes § 163.004 cover?
Section 163.004 ("Creation: Terms; revocability; rules of construction") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 163.004?
A common citation format is "Nevada Revised Statutes § 163.004" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 163.004 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.