1. The court may grant a summary administration if, at any time, it appears to the court that after payment of all claims and expenses of the guardianship the value of the protected minor’s property does not exceed $10,000.
2. If the court grants a summary administration, the court may:
(a) Authorize the guardian of the estate who is authorized to manage the protected minor’s property to convert the property to cash and sell any of the property, with or without notice, as the court may direct. After the payment of all claims and the expenses of the guardianship, the guardian shall deposit the money in savings accounts or invest the money as provided in NRS 159A.117, and hold the investment and all interest, issues, dividends and profits for the benefit of the protected minor. The court may dispense with annual accountings and all other proceedings required by this chapter.
(b) Terminate the guardianship of the estate and direct the guardian to deliver the protected minor’s property to the custodial parent or parents, guardian or custodian of the protected minor to hold, invest or use as the court may order.
3. Whether the court grants a summary administration at the time the guardianship is established or at any other time, the guardian shall file an inventory and record of value with the court.
4. If, at any time, the net value of the estate of the protected minor exceeds $10,000:
(a) The guardian shall file an amended inventory and accounting with the court;
(b) The guardian shall file annual accountings; and
(c) The court may require the guardian to post a bond.
(Added to NRS by 2017, 833)