Notice of death of settlor; filing of claim against trust estate; effect of failure to file claim; notice to Department of Human Resources; notice of rejected claim; effect of failure to bring suit after notice of rejected claim.
1. The trustee of a nontestamentary trust may after the death of the settlor of the trust cause to be published a notice in the manner specified in paragraph (b) of subsection 1 of NRS 155.020 and mail a copy of the notice to known or readily ascertainable creditors.
2. The notice must be in substantially the following form:
Notice is hereby given that the undersigned is the duly appointed and qualified trustee of the ................ trust. ................, the settlor of that trust died on ................. A creditor having a claim against the trust estate must file his claim with the undersigned at the address given below within 90 days after the first publication of this notice.
Dated......................................................
...........................................................................
Trustee
...........................................................................
Address
3. A person having a claim, due or to become due, against a settlor or the trust must file the claim with the trustee within 90 days after the mailing, for those required to be mailed, or 90 days after publication of the first notice to creditors. Any claim against the trust estate not filed within that time is forever barred. After the expiration of the time, the trustee may distribute the assets of the trust to its beneficiaries without personal liability to any creditor who has failed to file a claim with the trustee.
4. If the trustee knows or has reason to believe that the settlor received public assistance during his lifetime, the trustee shall, whether or not he gives notice to other creditors, give notice within 30 days after the death to the Department of Human Resources in the manner provided in NRS 155.010. If notice to the Department is required by this subsection but is not given, the trust estate and any assets transferred to a beneficiary remain subject to the right of the Department to recover public assistance received.
5. If a claim is rejected by the trustee, in whole or in part, the trustee must, within 10 days after the rejection, notify the claimant of the rejection by written notice forwarded by registered or certified mail to the mailing address of the claimant. The claimant must bring suit in the proper court against the trustee within 60 days after the notice is given, whether the claim is due or not, or the claim is barred forever and the trustee may distribute the assets of the trust to its beneficiaries without personal liability to any creditor whose claim is barred forever.
Last modified: February 25, 2006