Assembly Bill No. 101–Assemblymen Anderson, Giunchigliani, Parks, Brown, Buckley, Conklin, Oceguera, Ohrenschall and Sherer

 

CHAPTER..........

 

AN ACT relating to trusts; providing that divorce or annulment of the marriage of a settlor revokes certain provisions of a revocable inter vivos trust related to the former spouse under certain circumstances; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

    Section 1. Chapter 163 of NRS is hereby amended by adding

 thereto a new section to read as follows:

    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:

    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.

 

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