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Trust Administration in Las Vegas

Clear Guidance for Trustees After a Settlor’s Death

After the person who created a trust dies, the successor trustee becomes responsible for the property it holds. Mills & Anderson provides practical estate planning guidance so trustees can understand the document, organize their responsibilities, and address important questions before making distributions.

Trust administration is the ongoing work of managing assets according to the written document. Assets held in a revocable trust generally don’t need to pass through probate. However, a trust can’t transfer property that was never titled in or otherwise directed to it, so probate may still be necessary for those assets.

Call (725) 999-6468 to discuss a Las Vegas trust administration matter with our legal team.

How Trust Administration Differs from Probate

A trustee administers assets held in a trust, while an executor or personal representative administers a deceased person’s estate, including property subject to probate. One person may serve in both roles, but each is governed by different documents, procedures, and legal requirements.

Before taking control of the assets, the person named to serve should confirm their authority and ability to act. Our attorneys can review the trust language, explain the resulting obligations, and organize the work required under Nevada law.

Practical Support from a Collaborative Legal Team

We draw on more than 40 years of combined experience creating customized estate planning solutions. That background helps us identify how the original plan, asset ownership, and instructions affect administration after death. We provide honest, practical guidance on interpreting important provisions.

Every client has direct access to their attorney and a dedicated paralegal, backed by the collective knowledge of our collaborative legal team. We also explain the administration process and the trustee’s responsibilities to beneficiaries. Spanish-language services are available for clients who prefer to communicate in Spanish.

The Trust Administration Process After Death

The trustee must administer the assets according to the trust’s written terms. The precise work depends on the document and the property involved, but careful organization is important from the beginning.

Common administration responsibilities include:

Identifying assets: Determine which assets are held in or directed to the trust.
Managing assets: Protect and manage them while the administration remains open.
Separating property: Keep trust assets separate from the trustee’s personal property.
Maintaining records: Document transactions, expenses, decisions, and other administration activity accurately.
Communicating with beneficiaries: Provide appropriate information about the administration and the trustee’s work.
Preparing distributions: Distribute funds and other property as directed by the document.
Investing prudently: Manage investments in accordance with the trustee’s fiduciary responsibilities.

Records should account for income, expenses, transfers, and distributions. Clear documentation also helps co-trustees coordinate decisions and allows beneficiaries to understand how assets are being handled.

Nevada Trust Notices & Creditor Deadlines

Nevada trust administration is governed in part by Nevada Revised Statutes (NRS) Chapter 164, which addresses trustee duties, notices, and court jurisdiction. These rules include deadlines that may affect creditor claims and challenges to a trust’s validity.

Under section 164.025, a trustee may publish notice to creditors after the settlor’s death. A creditor with a claim against the settlor or trust must file it with the trustee within 90 days after mailing or publication of the first notice, or the claim is forever barred.

If a trustee rejects a creditor claim in whole or in part, subsection 164.025(6) requires notice to the claimant within 10 days. The claimant must bring suit within 60 days after receiving the rejection notice, or the claim is forever barred.

Trust validity has a separate deadline. Under section 164.021, a person who receives notice after a revocable trust becomes irrevocable generally has 120 days from service to contest its validity. Because the proper action depends on the circumstances, trustees should obtain guidance before relying on or responding to a statutory deadline.

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Trustee Fiduciary Duties Under Nevada Law

A fiduciary duty is a legal obligation to act for another person’s benefit within the authority granted by law and the trust. A trustee must follow the trust terms and the standards imposed by Nevada law.

Under NRS 164.715, trustees must invest and manage assets solely in the beneficiaries’ interests. NRS 164.720 requires impartial treatment when a trust has multiple beneficiaries. They must also avoid conflicts of interest, maintain confidentiality, keep accurate records, communicate with beneficiaries, and invest prudently.

Nevada’s prudent investor rule, found in NRS 164.740 through section 164.745, establishes standards for investing and managing trust property. Prudence is considered in the context of the portfolio and its purposes rather than by viewing each investment decision in isolation.

Co-trustees and beneficiaries can reduce the potential for disagreements by documenting decisions, communications, expenses, and distributions. A trustee who fails to follow the governing document or applicable fiduciary duties may face a legal challenge from an interested person.

Trust Administration Costs & Trustee Compensation

The cost of legal assistance depends on the work involved, including the assets, creditor issues, beneficiary questions, and any disagreements. The document may also contain instructions governing the trustee’s expenses and compensation.

When the document doesn’t address expenses or compensation, a Nevada court may, upon petition, allow proper expenses and compensation that’s just and reasonable. Trustees should review the controlling terms before paying expenses or taking compensation from trust property.

For matters that aren’t handled for a flat fee, we charge a consultation fee only if the client hires our firm. The fee is based on the consulting attorney’s hourly rate. Once retained, we bill work in one-tenth-hour increments at the attorney’s current hourly rate.

Discuss the Next Step with Our Legal Team

We provide trustees and beneficiaries with personalized support and practical guidance through estate planning matters. Use our contact form to describe the situation and request a conversation about the administration.

Call (725) 999-6468 to speak with Mills & Anderson about trust administration in Las Vegas.

Issues That Call for Prompt Legal Review

Administration decisions must account for the trust’s instructions and applicable Nevada law. Prompt review can be important when uncertainty could affect control of property, required notices, beneficiary rights, or a pending distribution.

A trustee should seek legal guidance when administration involves:

A creditor claim against the settlor or trust.
A challenge to the trust’s validity.
Trust language that’s unclear or appears inconsistent.
A beneficiary disagreement affecting administration.
Questions about the trustee’s authority or fiduciary duties.

A person named as successor trustee should confirm their authority and ability to serve before taking control of the assets. If no replacement trustee is available or able to act, court involvement may be required to establish authority for the administration.

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