In some unfortunate cases, a trustee of a trust may fail to follow the terms of the trust or may take actions inconsistent with their fiduciary duty as a trustee. Fortunately, Nevada law provides several remedies when a trustee beaches his or her fiduciary duty to the beneficiaries:
NRS 163.115 allows a beneficiary or co-trustee to maintain a court proceeding if a trustee (1) commits or (2) threatens to commit a breach of trust. The beneficiary or co-trustee can ask the court to apply the following remedies to correct or rectify any breach of trust:
These tools allow beneficiaries and co-trustee to request the court’s help to remedy any bad actions taken by existing trustees. The tools also provide peace-of-mind to clients who are creating new trusts or have existing trusts as the courts can take action against any future trustee who does not follow the terms of their trust. These laws and many other laws in the state of Nevada help protect you if your trusted trustee has gone bad.
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