Nevada Revised Statutes 163.565 – Effect of divorce or annulment of marriage of settlor on revocable inter vivos trust
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Divorce or annulment of the marriage of a settlor revokes every devise, beneficial interest or designation to serve as trustee given by the settlor to the former spouse of the settlor in a revocable inter vivos trust executed before the entry of the decree of divorce or annulment unless otherwise:
Terms Used In Nevada Revised Statutes 163.565
- Devise: To gift property by will.
- Inter vivos: Transfer of property from one living person to another living person.
- Trustee: A person or institution holding and administering property in trust.
- Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
1. Provided in a property or separation agreement that is approved by the court in the divorce or annulment proceedings; or
2. Ordered by the court in the divorce or annulment proceedings, and the revocable inter vivos trust provisions take effect in the same manner as if the spouse had predeceased the trustor.