Nevada § 166A.190 - Custodial trustee for future payment or transfer

§ 166A.190. Custodial trustee for future payment or transfer

1. A person having the right to designate the recipient of property payable or transferable

upon a future event may create a custodial trust upon the occurrence of the future

event by designating in writing the recipient, followed in substance by: “as custodial

trustee for _____ (name of beneficiary) under the Nevada Uniform Custodial Trust Act.” 2. Persons may be designated as substitute or successor custodial trustees to whom

the property must be paid or transferred in the order named if the first designated

custodial trustee is unable or unwilling to serve. 3. A designation under this section may be made in a will, a trust, a deed, a multiple-party

account, an insurance policy, an instrument exercising a power of appointment or a

writing designating a beneficiary of contractual rights. Otherwise, to be effective, the designation must be registered with or delivered

to the fiduciary, payor, issuer or obligor of the future right.