1. Before taking any of the following actions, the guardian shall petition the court for an order authorizing the guardian to: (a) Make or change the last will and testament of the protected person. (b) Except as otherwise provided in this paragraph, make or change the designation of a beneficiary in a will, trust, insurance policy, bank account or any other type of asset of the protected person which includes the designation of a beneficiary. The guardian is not required to petition the court for an order authorizing the guardian to utilize an asset which has a designated beneficiary, including the closure or discontinuance of the asset, for the benefit of a protected person if: (1) The asset is the only liquid asset available with which to pay for the proper care, maintenance, education and support of the protected person; (2) The asset, or the aggregate amount of all the assets if there is more than one type of asset, has a value that does not exceed $5,000; or (3) The asset is a bank account, investment fund or insurance policy and is required to be closed or discontinued in order for the protected person to qualify for a federal program of public assistance. (c) Create for the benefit of the protected person or others a revocable or irrevocable trust of the property of the estate. (d) Except as otherwise provided in this paragraph, exercise the right of the protected person to revoke or modify a revocable trust or to surrender the right to revoke or modify a revocable trust. The court shall not authorize or require the guardian to exercise the right to revoke or modify a revocable trust if the instrument governing the trust: (1) Evidences an intent of the protected person to reserve the right of revocation or modification exclusively to the protected person; (2) Provides expressly that a guardian may not revoke or modify the trust; or (3) Otherwise evidences an intent that would be inconsistent with authorizing or requiring the guardian to exercise the right to revoke or modify the trust. 2. Any other interested person may also petition the court for an order authorizing or directing the guardian to take any action described in subsection 1. 3. The court may authorize the guardian to take any action described in subsection 1 if, after notice to any person who is adversely affected by the proposed action and an opportunity for a hearing, the court finds by clear and convincing evidence that: (a) A reasonably prudent person or the protected person, if not incapacitated, would take the proposed action and that a person has committed or is about to commit any act, practice or course of conduct which operates or would operate as a fraud or act of exploitation upon the protected person or estate of the protected person and that person: (1) Is designated as a beneficiary in or otherwise stands to gain from an instrument which was executed by or on behalf of the protected person; or (2) Will benefit from the lack of such an instrument; or (b) The proposed action is otherwise in the best interests of the protected person for any other reason not listed in this section. 4. The petition must contain, to the extent known by the petitioner: (a) The name, date of birth and current address of the protected person; (b) A concise statement as to the condition of the estate of the protected person; and (c) A concise statement as to the necessity for the proposed action. 5. As used in this section: (a) Exploitation means any act taken by a person who has the trust and confidence of a protected person or any use of the power of attorney of a protected person to: (1) Obtain control, through deception, intimidation or undue influence, over the money, assets or property of the protected person with the intention of permanently depriving the protected person of the ownership, use, benefit or possession of the money, assets or property of the protected person. (2) Convert money, assets or property of the protected person with the intention of permanently depriving the protected person of the ownership, use, benefit or possession of the money, assets or property of the protected person. As used in this paragraph, undue influence does not include the normal influence that one member of a family has over another. (b) Fraud means an intentional misrepresentation, deception or concealment of a material fact known to the person with the intent to deprive the protected person of the rights or property of the protected person or to otherwise injure the protected person. (c) Interested person has the meaning ascribed to it in NRS 132.185 and also includes a named beneficiary under a trust or other instrument if the validity of the trust or other instrument may be in question.
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