Alliance Presentations in San Diego – Recap of the Gathering

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Last month Alliance Trust presented at the Southern California Institute’s annual “Gathering” of elite advisors from around the country in San Diego.  The topics of the two-day seminar included a panel debating the best family trust jurisdictions, and various methods and strategies to minimize and reduce estate, state and federal income taxes.  Advisors discussed asset protection trusts and other Nevada trust options, with case studies on how they work in practice.  As a Nevada Trust Company, Alliance Trust added insight and expertise on these topics from the perspective of a trustee.  Nevada is considered to have the best trust laws in the country, providing families valuable asset protection, flexibility for planning options and tax minimization for generations.  for more information on Nevada Trusts, please call Greg Crawford at Alliance Trust in Reno at 775-297-4684.

Why Sand Hill Road Uses Nevada Trust Strategies

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Alliance Trust Company of Nevada spends significant time in Silicon Valley.  Our clients range from early stage Angel investors, the founders of many fast-growing technology firms, and the partners of some of the most prestigious venture capital firms in the world.  Why are so many people connected with Sand Hill Road using Nevada Trust strategies?  In a word: Flexibility.

Nevada offers exclusive options within its trust and estate laws, and you don’t have to be a Nevada resident to establish and benefit from a Nevada Trust for generations to come.

Simply put, Nevada offers flexibility around common asset protection, tax-minimization, and dynasty provisions that have many around the country recommending Nevada as the best state in the country for trusts.  Even Business Week magazine recently took notice, putting Reno on the cover for its trust and estates activity.

Interested in learning more?  Call Greg Crawford, President of Alliance Trust in Reno at 775-297-4684.

Updating an Antiquated Family Trust in Nevada

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Many people are beneficiaries of family trusts that have antiquated terms and provisions that no longer make sense.  Yet many people also believe that they are “stuck” with the terms of the trust and that them simply have to live with the terms regardless moving forward.  This is not true.  Certain states, including Nevada, allow for modifications to be made to even an irrevocable trust.  Modifications can be made to extend the term of the trust, change the situs of the trust, and add or modify powers of appointment.  As this recent Forbes magazine article points out, you might even save taxes for the trust as part of this process.  Nevada is considered to have some of the best trust laws in the country and has very flexible statutes for modifying trusts.  For more information, call Greg Crawford in Reno at 775-297-4684.

Updating Your Estate Plan After a Divorce

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Although a divorce is a legal proceeding, it is often easy to forget that aspects of your financial affairs need to be updated afterwards.  Updating your will, power of attorney and healthcare proxies are all essential steps to prevent issues with an ex-spouse appearing for your heirs.  Designated beneficiaries on retirement accounts and insurance policies is often a step that is overlooked and is potentially problem if an ex-spouse is named as the beneficiary.  When updating your documents, ask your attorney about estate planning strategies in Nevada.  The state is considered to have some of the finest trust laws in the country, and depending on your circumstances and objectives, a trust in Nevada may better protect your assets, charitable interests and future heirs.  Call Greg Crawford at Alliance Trust in Reno at 775-297-4684 for more information.

 

Decanting an Irrevocable Trust in Nevada – Modernize an Irrevocable Trust

Many people believe that once a trust becomes irrevocable, that there is nothing you can do to change and fix outdated family trust provisions.  That is not correct.  Certain states,  including Nevada, have “decanting provisions” which allow for modifications of irrevocable trusts by shifting the assets from the old trust and into a new, modernized trust.  The new trust may have stronger asset protection and/or tax advantages.  The process leaves the unwanted trust provisions behind, like leaving sediment behind in decanting wine.  Decanting can be done quickly in Nevada, at a minimal cost.  Alliance Trust Company will be co-presenting a presentation at the Gathering in San Diego at the end of the month.  If you are looking at options to modify an irrevocable trust, you have a lot of options in Nevada you may not have in your home state.  Nevada is consider to have some of the best and most flexible trust laws in the country, and is consider one of the most favorable jurisdictions for decanting.  Please call Greg Crawford in Reno at 775-297-4684 for more information.

State of the Union to Propose Stealth Increase of Estate Taxes

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The Wall Street Journal and numerous other media outlets are reporting that the State of the Union address on Tuesday will outline a proposal by the President to effectively increase estate taxes.  In the proposal, appreciated assets in an estate would not receive an updated or “stepped up” tax basis on death.  Only a small amount of gains, suggested as $200,000 in portfolio assets and $500,000 in a primary residence would be shielded from tax.  Although these numbers may seem large, ask many families what their tax-cost basis is in desirable places to live, such as Silicon Valley and other parts of California, and you will see that this proposal would capture many more families with a taxable event on death even without a formal change to the estate tax rules.  There are many estate planning strategies that can help with families facing estate tax burdens.  Some of the best strategies use Nevada Trusts – the best state for asset protection and tax minimization.  Please call Greg Crawford in Reno at 775-297-4684 for more information.

Encore Presentation of Greg Crawford on Bulls n’ Bears

For those that missed the live broadcast, there will be an encore presentation of Alliance Trusts’ Greg Crawford discussing how Nevada evolved into the best state in the country for trusts, and business entity formation.  The show airs this Sunday at 9 pm on 99.1 FM in Reno.

What types of trusts are available in Nevada that aren’t in other states?  What trusts minimize local taxes?  Estate taxes?  Or better protect assets for your heirs?  If you are in Las Vegas or other parts of the country, tune in at this link.  A podcast should be available shortly.  For additional information, the well-regarded host of Bulls n’ Bears, Ken Roberts, recently wrote about NING trusts for the Lake Tahoe Tribune.

Alliance Trust Company in The New York Times

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Alliance Trust’s Greg Crawford appeared in the New York Times over the weekend, discussing the issue of “perpetual trusts.”  The link to the article is here.  Trust law in the United States evolved from England, which via case law established the “Rule Against Perpetuities” in 1682.  This law, refined by future cases,  effectively limited trust duration to approximately 90-100 years.  Recently, many states and foreign countries have either repealed the rule or have extended the duration of trusts far beyond the legal relic of the rule.  Nevada trusts can last for as long as 365 years.  In the NYT Greg discusses how a Nevada court would react to another court asserting jurisdiction over a Nevada trust, and how Nevada protects its trust and estates industry.  Alliance has worked for years with the legislature to enhance and protect what many consider to be the best trust laws in the country.  If you have questions as to how a Nevada trust could benefit you and your family for generations to come, call Greg Crawford in Reno at 775-297-4684.

Myths About Family Trusts

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Did you know that you can manage your own investments inside a trust?  That you can be co-trustee?  That you can be a beneficiary of a trust you establish?  Or that you can establish and benefit from a Nevada trust even if you don’t live in Nevada?  Yes, you can. The fact is that family trusts are far more flexible than even before, giving you many new ways to better protect your family, provide more to charitable interests and potentially even trim taxes.  To learn more about how a Nevada trust strategy could work for you and your family call Greg Crawford  in Reno at 775-297-4684

The Human Aspects of Estate Planning

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Usually we see a trigger which causes families to take their estate planning seriously.  It could be a personal health issue, the loss of a friend or relative, or a resolution to doing something that everyone knows needs to be done.  “Why” a family develops an estate plan, and its broad goals and objectives, are often lost in the “how” of the estate plan – the mechanics which can be confusing and feel arbitrary to many families members.  The objectives of one generation, i.e. tax minimization, may not be the objectives of future generations.  With more and more families using dynasty trust provisions (which in Nevada allow trusts to last for 365 years), the goals and aspirations of the grantors of the trust are critically important.  in this excellent article by Paul Sullivan of the New York Times, the trend towards Purposeful Estate Planning, which attempts to broaden the typical goals of estate planning into broader types of behaviors and experiences for beneficiaries which are supported by trust assets.  If you have questions about your family’s  estate plans, or need to get started on one,  call Greg Crawford at Alliance trust in Reno, Nevada.  He can be reached at 775-297-4684.

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