Nevada Advantage

Nevada is consistently ranked as the top trusts jurisdiction in the United States for the many advantages that people gain:

Nevada does not have a state or fiduciary income tax. Irrevocable trusts are taxed at the state level on where the trustee resides. If a client has a Nevada trustee, the Nevada trusts may avoid filing a state income tax return. This helps reduce the erosion of trust assets by the tax rate. *The Nevada trusts will always have to file a federal income tax return. Also, if a beneficiary of trust from Nevada trust companies receive 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 Nevada 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 17 states allow these types of trusts and Nevada’s laws are consistently ranked number 1 for the Nevada Advantage they provide 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 Nevada 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 irrevocable Nevada trusts.
• LLC’s and Partnerships with “Charging Order Protection” – Offers a high level of entity asset protection