Revocable Living Trust in Nevada
Preserve privacy, avoid probate, and protect your family — with a plan built around your life.
A Revocable Living Trust (RLT) is an effective tool for preserving privacy, eliminating the need for probate, and preparing your estate for an easier transition upon your death. The RLT is established by written agreement and records the arrangement in which you transfer ownership of your property into the Trust during your lifetime.
We tailor each Revocable Living Trust to the individual’s particular needs — from drafting the trust instrument to guiding you through funding it correctly.
The Four Components of a Trust
Trustor
The creator of the Trust (also called the settlor under Nevada law). Usually also serves as the initial Trustee.
Trustee
The person or entity who accepts property into the Trust, manages it, and distributes it according to the Trustor’s directions.
Trust Assets
The property transferred into the Trust by the Trustor — real estate, accounts, investments, and more.
Beneficiary
The person or people who receive the Trust assets, according to the terms you set out.
Creating Your Revocable Living Trust
The RLT is created by you (the Trustor), who generally also serves as Trustee and retains ownership and complete control of all assets transferred. The RLT offers flexibility to manage your estate, is revocable, and may be amended by you at any time during your lifetime.
As Trustor, you transfer property into the Trust and direct what happens to those assets in the event of your incapacity and/or death. If you become incapacitated, your nominated Successor Trustee can manage your assets according to your stated wishes.
Key Benefit
Nominating a Successor Trustee eliminates the need for a court-appointed guardian and avoids the often complex Nevada probate process.
Funding Your Revocable Living Trust
Funding your RLT is extremely important, and relatively simple to accomplish. You can transfer out-of-state real property into your Trust to avoid a separate (ancillary) probate proceeding in the state where that property is located. The RLT can also be named the beneficiary of certain life insurance policies and other accounts, which can eliminate the need for a court-appointed guardian for minor heirs and help avoid disqualifying certain beneficiaries from government assistance.
💡 Remember: A Trust that is never funded is just a piece of paper. The assets must be retitled in the Trust’s name to receive the probate-avoidance and incapacity-planning benefits.
What Your Trust Can Do
Discretion Over Distributions
Stipulate how and when beneficiaries receive their inheritance — upon graduating college, reaching a certain age, or subject to circumstances like divorce or bankruptcy. You can still provide for their health, education, maintenance, and support in the meantime.
Joint Trusts for Married Couples & Domestic Partners
In community property states like Nevada, married couples and registered domestic partners can create joint RLTs — transferring assets to the survivor upon the first death while still addressing blended-family or estate tax concerns.
Trusts for Pets
Nevada law (NRS 163.0075) permits a pet owner to set up a trust to benefit their pet(s) following the owner's incapacity or death — covering caregiver, food, schedule, and veterinary care, with a contingent beneficiary for the remaining balance.
Revocable Living Trust vs. a Simple Will
| Feature | Revocable Living Trust | Simple Will |
|---|---|---|
| Avoids probate | ✓ Yes (if properly funded) | ✗ No |
| Keeps estate private | ✓ Yes — not a public record | ✗ No — wills become public |
| Plans for incapacity | ✓ Yes — Successor Trustee steps in | ✗ No |
| Controls distribution timing | ✓ Yes — milestone conditions | Limited |
| Nominates guardians for minors | Not directly | ✓ Yes |
| Up-front cost | Higher — but saves more long-term | ✓ Lower |
Most clients pair an RLT with a pour-over Will, which catches assets not yet transferred into the Trust and can nominate guardians for minor children.
What a Revocable Living Trust Does Not Do
Because you keep full control over the assets in a Revocable Living Trust and can revoke or amend it at any time, an RLT does not shield those assets from your own creditors during your lifetime. It is an estate-planning and probate-avoidance tool — not an asset-protection tool.
Nevada is separately known for irrevocable, self-settled asset-protection trusts under NRS Chapter 166, which serve a different purpose and involve giving up the control an RLT is built to preserve. We can advise on whether that type of planning makes sense for you as a separate matter.
⚠️ Important distinction: If asset protection from creditors or lawsuits is a concern, an RLT alone is not the answer. Ask us about Nevada’s irrevocable trust options — they are a separate conversation.
How Jones & LoBello Can Help
We tailor each Revocable Living Trust to the individual’s particular needs — from drafting the trust instrument to guiding you through funding it correctly.
Trust Drafting
We draft the trust instrument to match your family structure, assets, and goals — not a one-size-fits-all template.
Funding Guidance
We walk you through retitling real property, updating account beneficiaries, and coordinating your pour-over Will so nothing falls through the cracks.
Blended Family & Special Needs Planning
Joint trusts, milestone distributions, and provisions for beneficiaries with special needs or challenging circumstances — we address the details that matter.
Ready to Talk Through Your Estate Plan?
Whether you’re starting from scratch or updating an existing plan, we can help you build a trust that fits your life. Schedule a consultation and we’ll tell you where you stand.
Frequently Asked Questions
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This page is provided for general informational purposes only and is not legal advice. Trust and estate planning depends on your individual circumstances; consult a licensed Nevada attorney about your specific situation.