Nevada § 166A.250 - Use of custodial trust property

§ 166A.250. Use of custodial trust property

1. A custodial trustee shall pay to the beneficiary or expend for the beneficiary's

use and benefit so much or all of the custodial trust property as the beneficiary

while not incapacitated may direct from time to time. 2. If the beneficiary is incapacitated, the custodial trustee shall expend so much

or all of the custodial trust property as the custodial trustee considers advisable

for the use and benefit of the beneficiary and individuals who were supported by the

beneficiary when the beneficiary became incapacitated, or who are legally entitled

to support by the beneficiary. Expenditures may be made in the manner, when and to the extent that the custodial

trustee determines suitable and proper, without court order and without regard to

other support, income or property of the beneficiary. 3. A custodial trustee may establish checking, savings or other similar accounts of

reasonable amounts under which either the custodial trustee or the beneficiary may

withdraw funds from, or draw checks against, the accounts. Funds withdrawn from, or checks written against, the account by the beneficiary

are distributions of custodial trust property by the custodial trustee to the beneficiary.