The Nevada Supreme Court recently published two cases relevant to trusts and trust issues. The first case deals with a divorcing couple, Eric and Lynita Nelson, who had set up spendthrift trusts prior to their divorce. In this case, the court confirmed that Nevada does not have exception creditors; the only exclusion being for fraudulent transfers. The court also held that extrinsic evidence may not be used to refute a document that is valid and unambiguous. This applies to trusts and also to agreements transmuting community property into separate property.
In the second court decision, the Nevada Supreme Court held that an investment trust advisor accepting a trust with a situs in the state constitutes sufficient minimum contacts with Nevada to give rise to specific personal jurisdiction.
See Klabacka v. Nelson, 2017 Nev. LEXIS 40 (May, 25, 2017).
See Davis v. Davis, 388 P.3d 964 (Nev. 2017).
