The Nevada Advantage
We are based in Nevada allowing our clients across the country to formulate and execute their estate plans to take advantage of Nevada’s progressive trust, corporate, and tax laws; we call this the “Nevada Advantage.” You can reside anywhere in the United States and still benefit from a trustee relationship with Premier Trust.
Nevada is consistently ranked as the top trust jurisdiction in the United States for many reasons:
- Nevada does not have a state of fiduciary income tax. Irrevocable trusts are taxed at the state level on where the trustee resides. If a client has a Nevada trustee, the trust may avoid filing a state income tax return. This helps reduce the erosion of trust assets by the tax rate. The trust will always have to file a federal income tax return. If a beneficiary of a Nevada trust receives a trust distribution, that distribution will be subject to their own state’s personal income tax filings.
- Nevada dynasty trusts allow a trust to continue for 365 years. The length of time a trust can last is commonly referred to as a states “Rule Against Perpetuities.” Dynasty provisions allow a trust to avoid the estate tax arena for multiple generations.
- Self-Settled Spendthrift Trusts (often referred to as Nevada Asset Protection Trusts) – One can create an irrevocable trust in Nevada for their own benefit. Two years after the assets are transferred to the trust the assets should be creditor protected. Only 16 states allow these types of trusts and Nevada’s laws are consistently ranked number 1 for the reasons below:
– Provides for No Exception Creditors
– Protects assets for creditors including divorcing spouses
– Has a Two Year Statute of Limitations, the shortest in the nation
– Directed Trusts – Allowing the division of trust duties among a family trustee, independent trustee, and administrative trustee.
– Decanting Statute – Through recent legislation in Nevada you can now change the terms of an irrevocable trust.
– LLC’s and Partnerships with “Charging Order Protection” – Offers a high level of entity asset protection
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Thoughts from Professionals
I personally refer roughly 10 to 12 trusts a month to Premier Trust. I probably don’t need to say anything more than that, but I will. The people at Premier Trust are responsive and make the process as smooth as possible for our staff and our clients. I am constantly referring other estate planning professionals to them since I know they are in good hands!
Oshins & Associates, LLC
Las Vegas, NV
Premier is our go to Trust Company for clients who want good service, trust officers that care, solid professionalism, and making sure that i’s are dotted and t’s are crossed. That, along with very competitive rates for services rendered make it the best choice for a great many clients and advisors. Keep up the great work!
Gassman, Crotty & Denicolo, P.A.
Premier has proven incredibly responsive, flexible and helpful in handling a wide range of trust transactions. Their professionalism has helped me do a better job for my clients, get deals done under tight time deadlines, and creatively address unusual situations.
Martin M. Shenkman, PC
Fort Lee, NJ
As a tax and estate planning attorney I have many options of trust companies to work with, especially when my clients in jurisdictions like California wish to do long term asset protection planning for their families. In my years of experience I have worked with many different Trustees and Trust Companies and time and time again I come back to working with Premier Trust when clients want to use Nevada as their jurisdiction as they are excellent in what they do and have always delivered for me in every client situation that I have sent their way. I would highly recommend them to any estate planning attorney or other professional who is looking to set up structures in Nevada.
Ziebold Law Group