Legal Question in Wills and Trusts in Nevada

If the trustors are also the primary trustees and the title of the asset is held in the name of the trust, only, there should be no need to provide notice to the asset holder of the death of one of the trustors/trustees. Since the surviving trustee (under normal circumstances) retains full authority over and benefits of the assets after death of the co-trustor/co-trustee, there really should be no need. If there is some factual circumstance demanding that the occurrence of death of one of the parties be noticed to an asset holder or other entity, it is a simple enough thing to do. A letter of explanation, accompanied by a copy of the death certificate and of the Summary of Trust or Abstract of Trust from the estate plan package should be all that is necessary to accomplish this task.

Nevada Revised Statute 164.025 provides, in relevant part:

1.  The trustee of a nontestamentary trust may after the death of the settlor of the trust cause to be published a notice ... and mail a copy of the notice to known or readily ascertainable creditors.

This statute provides for creditors to be notified so they are compelled to make a claim on an individual's trust or lose the right to so pursue their debt. Generally, this is done prior to disbursement of the trust assets to avoid any unknown claims arising, but such is not so vital if a co-trustee/co-beneficiary of the trust survives and has full access to all trust assets.

Now, it could be there is specific language or circumstances provided in the trust that makes it necessary to provide such notice, so if you have a question remaining, it would be prudent to have a knowledgeable estate planning attorney review the trust documents and advise you on what steps must be taken to remain in compliance with the law.