NRS162A.550. Estates, trusts and other beneficial interests.

      1.  Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to estates, trusts and other beneficial interests authorizes the agent to:

      (a) Accept, receive, receipt for, sell, assign, pledge or exchange a share in or payment from the fund;

      (b) Demand or obtain money or another thing of value to which the principal is, may become or claims to be entitled by reason of the fund, by litigation or otherwise;

      (c) Exercise for the benefit of the principal a presently exercisable general power of appointment held by the principal;

      (d) Initiate, participate in, submit to alternative dispute resolution, settle, oppose, propose or accept a compromise with respect to litigation to ascertain the meaning, validity or effect of a deed, will, declaration of trust, or other instrument or transaction affecting the interest of the principal;

      (e) Initiate, participate in, submit to alternative dispute resolution, settle, oppose, propose or accept a compromise with respect to litigation to remove, substitute or surcharge a fiduciary;

      (f) Conserve, invest, disburse or use anything received for an authorized purpose; and

      (g) Transfer an interest of the principal in real property, stocks and bonds, accounts with financial institutions or securities intermediaries, insurance, annuities and other property to the trustee of a revocable trust created by the principal as settlor or grantor.

      2.  As used in this section, “estates, trusts and other beneficial interests” means a trust, probate estate, escrow, custodianship or fund from which the principal is, may become or claims to be entitled to a share or payment.

      (Added to NRS by 2009, 189)