Nevada § 163.5505 - Creation; enforcement; requirements
Full text of Nevada Nevada Revised Statutes § 163.5505 — Creation; enforcement; requirements, with citation guidance and answers to common questions.
§ 163.5505. Creation; enforcement; requirements
Except as otherwise provided in NRS 163.0075 or another provision of law: 1. A trust may be created for a noncharitable purpose without a definite ascertainable
beneficiary or for a noncharitable but otherwise valid purpose. The noncharitable purpose for which a trust is created must be stated with sufficient
particularity in the trust instrument as to be ascertainable by a finder of fact. 2. A trust authorized by this section may be enforced by a trustee, trust adviser,
trust protector or person appointed under the terms of the trust or, if no such person
is appointed, by the court. 3. Except to the extent the court determines that the value of the trust property
exceeds the amount required for the intended use, property of a trust authorized by
this section may be applied only to its intended use, including, without limitation,
appointing trust property to or for the benefit of an existing or new trust whose
purposes are limited to one or more purposes of the original trust. Except as otherwise provided by the terms of the trust, property not required for
the intended use must be distributed to the settlor, if living, or otherwise to the
settlor's successors in interest. 4. As used in this section: (a) “Trust adviser” has the meaning ascribed to it in NRS 163.5545 . (b) “Trust protector” has the meaning ascribed to it in NRS 163.5547 . (c) “ Valid purpose ” means any purpose that is not illegal or against public policy.
Frequently Asked Questions About Nevada § 163.5505
What does Nevada Revised Statutes § 163.5505 cover?
Section 163.5505 ("Creation; enforcement; requirements") 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 § 163.5505?
A common citation format is "Nevada Revised Statutes § 163.5505" (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 § 163.5505 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.