1. If the inventory filed pursuant to NRS 159A.085 includes the existence of a trust of which the protected minor is currently a beneficiary who is receiving or is entitled to receive distributions, the trustee must be served with a copy of the inventory for the purpose of alerting the trustee that the court may assume jurisdiction of the trust pursuant to this section or that supervision of the trust may be transferred to the court pursuant to NRS 164.130.
2. The guardian of the protected minor or attorney of the protected minor may demand a copy of the trust and an accounting of the assets of the trust from the trustee. Such a demand must be served on the trustee and all parties and include notice that failure to comply with the demand may result in the court assuming jurisdiction of the trust.
3. If the trustee fails to comply with the demand made pursuant to subsection 2 within 30 days after being served with the demand, the guardian of the protected minor or attorney of the protected minor may petition the court to assume jurisdiction of the trust. Such a petition must be served on the trustee and all parties.
4. Not later than 30 days after being served with a petition pursuant to subsection 3, the trustee may object to the court assuming jurisdiction of the trust. If no objection is filed or if the court does not find good cause as to why it should not assume jurisdiction of the trust, the court may assume jurisdiction of the trust.
5. Not later than 30 days after the court assumes jurisdiction of the trust pursuant to this section or supervision of the trust is transferred to the court pursuant to NRS 164.130, the trustee shall file a copy of the trust and an accounting of the assets of the trust with the court.
6. The provisions of chapters 162 to 167, inclusive, of NRS apply to a trust of which a court has jurisdiction.
(Added to NRS by 2017, 1234)
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