Nevada § 163.260 - Incorporation by reference of powers enumerated in NRS 163.265 to 163.410, inclusive; restriction on exercise of such powers

§ 163.260. Incorporation by reference of powers enumerated in NRS 163.265 to 163.410, inclusive; restriction on exercise of such powers

1. Except as otherwise expressly provided by a testator in a will or by a settlor

in a trust instrument, all of the powers enumerated in NRS 163.265 to 163.410 , inclusive, as they exist at the time that the testator signs the will or places

his or her electronic signature on the will, if it is an electronic will, or at the

time that the first settlor signs the trust instrument or places his or her electronic

signature on the trust instrument, if it is an electronic trust, must be incorporated

in such will or trust instrument as to the fiduciaries appointed under that will or

trust with the same effect as though such language were set forth verbatim in the

instrument. Incorporation of the powers contained in NRS 163.265 to 163.410 , inclusive, must be in addition to and not in limitation of the common-law or statutory

powers of the fiduciary. 2. A fiduciary shall not have or exercise any power or authority conferred as provided

in NRS 163.260 to 163.410 , inclusive, in such a manner as, in the aggregate, to deprive the trust or the estate

involved of an otherwise available tax exemption, deduction or credit, expressly including

the marital deduction, or operate to impose a tax upon a donor or testator or other

person as owner of any portion of the trust or estate involved. Notwithstanding any other provision of law, any power purportedly granted to a personal

representative or a trustee, either in a will or a trust instrument, is void if having

or exercising such power would deprive the will or trust of the intended tax consequences. “ Tax ” includes, but is not limited to, any federal income, gift, estate, generation skipping

transfer or inheritance tax. 3. The powers enumerated in NRS 163.265 to 163.410 , inclusive, may be incorporated by reference as to any fiduciary appointed in any

other kind of instrument or agreement where a fiduciary is appointed. 4. As used in this section, “ electronic will ” has the meaning ascribed to it in NRS 132.119 .