Creation: Beneficiary.

NRS

163.006

Creation: Beneficiary.

A trust is created only if there is a beneficiary. This requirement is satisfied if the trust instrument provides for:

1. A beneficiary or class of beneficiaries that is ascertainable with reasonable certainty or that is sufficiently described so that it can be determined whether a person meets the description or is within the class;

2. A grant of power to the trustee or some other person to select the beneficiary based on a standard or in the discretion of the trustee or other person;

3. A charitable trust as defined in NRS 163.460 ;

4. A trust for the care of one or more animals created pursuant to NRS 163.0075 ;

5. A public benefit trust as defined in NRS 163.551 ; or

6. A noncharitable trust without an ascertainable beneficiary pursuant to NRS 163.5505 .

(Added to NRS by 1991, 1704 ; A 2015, 3542 ; 2017, 1688 )