Nevada Revised Statutes 159A.113 – Guardian required to petition court before taking certain actions; guardian may petition court before taking certain other actions; content of petition
1. Before taking any of the following actions, the guardian of the estate shall petition the court for an order authorizing the guardian to:
Terms Used In Nevada Revised Statutes 159A.113
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Donee: The recipient of a gift.
- Grantor: The person who establishes a trust and places property into it.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
(a) Invest the property of the protected minor pursuant to NRS 159A.117.
(b) Borrow money for the protected minor pursuant to NRS 159A.121.
(c) Except as otherwise provided in NRS 159A.079, enter into contracts for the protected minor or complete the performance of contracts of the protected minor pursuant to NRS 159A.123.
(d) Make gifts from the protected minor’s estate pursuant to NRS 159A.125.
(e) Sell, lease or place in trust any property of the protected minor pursuant to NRS 159A.127.
(f) Exchange or partition the protected minor’s property pursuant to NRS 159A.175.
(g) Exercise or release the power of the protected minor as a donee of a power of appointment.
(h) Exercise the right of the protected minor to take under or against a will.
(i) Transfer to a trust created by the protected minor any property unintentionally omitted from the trust.
(j) Submit a revocable trust or an irrevocable trust to the jurisdiction of the court if:
(1) The protected minor is the grantor and sole beneficiary of the income of the trust; or
(2) The trust was created by the court.
(k) Pay any claim by the Department of Health and Human Services to recover benefits for Medicaid correctly paid to or on behalf of the protected minor.
(l) Transfer money in a protected minor’s blocked account to the Nevada Higher Education Prepaid Tuition Trust Fund created pursuant to NRS 353B.140.
2. Before taking any of the following actions, unless the guardian has been otherwise ordered by the court to petition the court for permission to take specified actions or make specified decisions in addition to those described in subsection 1, the guardian may petition the court for an order authorizing the guardian to:
(a) Obtain advice, instructions and approval of any other proposed act of the guardian relating to the protected minor’s property.
(b) Take any other action which the guardian deems would be in the best interests of the protected minor.
3. The petition must be signed by the guardian and contain:
(a) The name, age, residence and address of the protected minor.
(b) A concise statement as to the condition of the protected minor’s estate.
(c) A concise statement as to the advantage to the protected minor of or the necessity for the proposed action.
(d) The terms and conditions of any proposed sale, lease, partition, trust, exchange or investment, and a specific description of any property involved.
4. Any of the matters set forth in subsection 1 may be consolidated in one petition, and the court may enter one order authorizing or directing the guardian to do one or more of those acts.
5. A petition filed pursuant to paragraph (c) of subsection 1 may be consolidated in and filed with the petition for the appointment of the guardian, and if the guardian is appointed, the court may enter additional orders authorizing the guardian to enter contracts for the protected minor or complete contracts of the protected minor.