Nevada § 166A.220 - Multiple beneficiaries; separate custodial trusts; survivorship

§ 166A.220. Multiple beneficiaries; separate custodial trusts; survivorship

1. Beneficial interests in a custodial trust created for multiple beneficiaries are

deemed to be separate custodial trusts of equal undivided interests for each beneficiary. Except in a transfer or declaration for use and benefit of a married couple, for

whom survivorship is presumed, a right of survivorship does not exist unless the instrument

creating the custodial trust specifically provides for survivorship or survivorship

is required as to community or marital property. 2. Custodial trust property held under this chapter by the same custodial trustee

for the use and benefit of the same beneficiary may be administered as a single custodial

trust. 3. A custodial trustee of custodial trust property held for more than one beneficiary

shall separately account to each beneficiary pursuant to NRS 166A.230 and 166A.310 for the administration of the custodial trust.