Why Private Label Trust Services Are Right For Your Company

Expand Your Offering and Strengthen Client Relationships With Private Label Nevada Trust Administration

If you’re currently outsourcing your trust administration services to other companies, now is the time to bring them under your branding. Many financial institutions including law and accounting firms, banks, and brokerages don’t have a branded trust solution to keep client relationships strong.

Alliance Trust Company of Nevada wants to change that.

By using our trust administration services under your brand with our Private Label Trust Administration service, you’re able to provide a trust administration infrastructure to your clients while keeping wealthy families under your umbrella.

Why Use Private Label Trust Administration?

A Turn-Key Solution

Attempting to build a trust company on your own is a significant, time-consuming undertaking with significant demands on corporate, capital, human resources, operating infrastructure and regulatory compliance.

On the other hand, sending your clients to outside companies to manage their family trusts often weakens your long-term relationship with them.

So, how do you provide your clients the benefits and advantages of trust strategies without damaging the relationship you have worked so hard for years to build?

By using Alliance Trust Company of Nevada’s Private Label Trust Program, you can quickly provide trust administration services to your clients with little or no cost up front. In addition, you’ll start generating revenue from your trust relationships at a fraction of the cost of building your own internal trust company. Most importantly, your clients receive the unique benefits of Nevada-based estate planning while you maintain and deepen your client relationship.

Consistent Branding and Client Experience

The communication that your client receives regarding their trust will always highlight your company’s branding and have the same look and feel as your current collateral. When you use Alliance’s Private Label Service, the fiduciary decisions related to the trust are made in Nevada, but you continue to perform all of the client relationship management, asset management, and related activities. From a client perspective, their advisor experience remains the same, with the added benefits of Nevada trust planning.

Additional Estate-Planning Services

Alliance Trust Company of Nevada offers a full range of trust and estate planning services under private label including fiduciary administrative functions and compliance, custodial services, asset management, recordkeeping, trust distributions, tax services, fiduciary liability and more.

Again, by providing comprehensive estate planning services to your clients, their commitment to your institution is strengthened, and you’ll be able to retain that relationship for many generations.

Other Business Benefits of Expanded Trust and Estate Planning Services

Private label services will allow your company to focus on its core business and increase service offering at the same time. Not only does this increase the business you’re doing with your clients, but it gives your organization a competitive advantage in the marketplace.

You gain the administrative infrastructure of Alliance Trust Company of Nevada while leveraging our trust and marketing experience.

Why Nevada?

Offering trust services to your clients via Alliance Trust Company of Nevada is a smart move for any organization and a great benefit to your clients. Nevada has the most wealth-friendly trust laws in the world offering flexibility and privacy, with external asset managers.

Nevada trust laws allow for self-settled spendthrift trusts, asset protection trusts, and dynasty trusts. Additionally, there are no individual or corporate income taxes, or estate taxes in the state of Nevada.

Why Alliance Trust Company of Nevada?

At Alliance Trust Company of Nevada, we work with attorneys, CPA’s, financial advisors, brokers and insurance professionals globally to provide flexible trustee services and benefits on a third-party basis.

Alliance Trust Company of Nevada is an independent trust company – we are not an affiliate or subsidiary of any brokerage, bank, or insurance company, which enables us to engage our clients and their teams of professionals without corporate interference or product motives.

Take Advantage of Alliance’s Private Label Trust Services

A competitive practice advantage is necessary in today’s ever-changing world, and making your company a one-stop financial and professional services shop for your higher-end clients will position you and your client’s for continued success.

To learn more about how Alliance Trust Company of Nevada can help you expand your service offering and retain clients for years to come, contact us today!

STEP LatAm 2017

Join us at STEP LatAm!

Join Alliance Trust Company of Nevada at The Society of Trust and Estate Practitioners (STEP) conference in September, hosted at the Hilton, Cartagena in Cartagena, Colombia. As sponsors of this event, we firmly believe in the value you’ll receive as an attendee.

STEP is the preeminent conference for wealth structuring and trust estate planners. This two-day event on September 28th and 29th will equip you with industry trends and information that will inform and engage.

What is The Society of Trust and Estate Practitioners (STEP)?

The Society of Trust and Estate Practitioners (STEP) is a professional organization focused on providing its members with local, national and international learning. The society is passionate about responsible stewardship of assets in both today’s financial environment and that of future generations.

Members of STEP receive education, training, representation and networking benefits. In addition to what members receive, they also provide advice to clients in the areas of management and personal finance.

Becoming a full member of STEP means that you are an extremely experienced and senior practitioner in the trusts and estates space.

Who Will Be Speaking?

You’ll have the opportunity to hear from leaders in the trust and estate space and participate in breakout sessions in both Spanish and English. Topics include everything from taxes to privacy to wills and more.

STEP features 26 speakers including professionals from all over the world who are leaders in their fields. Every session will feature supplemental materials you can take with you when the conference is over.

About Cartagena, Colombia

Founded in the 16th century, Cartagena is a port city located on Colombia’s Caribbean coast. As a popular beach destination with a tropical climate, you’re sure to enjoy your time exploring during conference breaks.

STEP has reserved a block of hotel rooms at the Hilton Cartagena, or you can choose one of the many beautiful boutique hotels in the Walled City including the nearby Hotel Estelar Oceania

About Alliance Trust Company of Nevada

Alliance Trust Company of Nevada works with attorneys, financial advisors, CPAs and insurance professionals from around the world to provide flexible trustee services and the benefits of Nevada trust situs.

Founded in 2005, Alliance Trust Company of Nevada is fully-independent and 100% employee-owned.

As a firm established by independent advisors, for advisors, we offer flexible trustee services to various allied professionals locally, nationally, and internationally.

Alliance Trust Company is an independent trust company – not a subsidiary or affiliate of any brokerage house, insurance company or bank. We engage our clients and their established teams of professionals without interference.

Nevada leads the nation in both domestic and global asset protection and wealth management. We help our clients benefit from Nevada’s favorable trust laws through a variety of trustee services and asset management.

We’d Love to See You There

As sponsors of STEP Latin America, Alliance Trust Company of Nevada will be attending the conference and located in the exhibitor hall.

Our Chief Financial Officer, Louis Robinson, TEP will be attending the event, so come visit him during the conference and say “hello.” Lou would love to explain the many advantages of utilizing Nevada in your clients’ strategies.

We look forward to seeing you there!

Nevada’s Unparalleled Asset Protection

Klabacka vs. Nelson sets precedent for Asset Protection in Nevada

The recent Nevada Supreme Court case of Klabacka vs. Nelson has had an unprecedented impact on protective trust laws. Not only did the case defy similar rulings passed down in other states such as South Dakota, Wyoming, and Florida but it also firmly established Nevada as having the strongest asset protection laws in the United States.

The case remarkably upheld the obligation of the defendant to follow-through on his court mandated alimony and child support while maintaining protection of his assets within the trust. This ruling is the first of its kind among the 17 states that allow asset protections trusts to exist.

Klabacka vs. Nelson in a Nutshell

When Lynita Sue Nelson and Eric L. Nelson divorced, the court rejected her request that alimony and child support be taken out of his self-settled spendthrift trust account. This ruling protected the trust and mandated that the $800,000 in alimony, back child support and private school tuition support for his daughter be paid out of his liquid assets instead.

The Nelson’s had their assets divided by a considerable amount of time before the court ruling last May. The Nelson’s initially divided their property in 1993, and in 2001 they opened two separate self-settled spendthrift trusts.

Official divorce proceedings for the couple began in 2009, and the district court ruled that the alimony and child support that Lynita Sue Nelson was seeking should be taken out of Eric L. Nelson’s trust. Precedents supporting this ruling include similar cases in South Dakota, Wyoming, and Florida. The Supreme Court of Nevada overturned this ruling in May of this year.

What is a Self-Settled Spendthrift Trust (SSST)?

Nevada Self-Settled Spendthrift Trusts (Domestic Asset Protection Trusts) permit a grantor to secure assets into an irrevocable trust while remaining a beneficiary of that trust. The state statutes necessitate the use of an independent trustee before making distributions to the grantor.

The assets are secure from the claims of creditors after the statute of limitations, and as Klabacka vs. Nelson has proved, they are also secure from alimony and child support. However, Eric is still required to pay spousal support from liquid assets or other investments.

The Nevada Self-Settled Spendthrift Trust is one of the most robust and effective asset protection and estate planning strategies available in the United States.

How Klabacka vs. Nelson Affects Other States

Only 17 states allow asset protection trusts and the ones that do have varying degrees of protection. So the question becomes, will other states follow Nevada’s lead?

Because the Klabacka vs. Nelson case has set a new precedent, it’s certainly possible that other states will follow suit. However, Nevada remains the only state to have ruled in favor of supporting their established trust laws in this manner, and the only state where you can be sure that your assets in trust are truly protected.

As far as protecting those who live outside of Nevada but have a trust established in Nevada, there is no existing precedent set to know how the courts will respond. It’s possible that other states will defer to Nevada’s ruling, but that’s not necessarily the case, and it’s something to consider.

Florida is another state that allows asset protection and attorneys in the state have paid close attention to the Klabacka decision. Respected private client attorney in the state of Florida and managing member of Chodos & Associates, Adam Chodos anticipates that this decision will be a benchmark for other states.

“The recent Klabacka decision reaffirms Nevada’s strength in the self-settled spendthrift trust world. While statutes are a foundational component of trusts, when they are interpreted and enforced is when their true efficacy can be seen.” said Chodos, “Residents of states that do not have statutes or case law as well developed will look to Nevada as an attractive option.”

Are Obligations Fulfilled When Trusts Are Protected?

A good attorney will ensure that there are significant assets outside of a self-settled spendthrift trust (domestic asset protection trust). Domestic asset protection trusts are utilized as part of an estate planning strategy leaving a bulk of assets outside of the trust. By design, Nevada Asset Protection laws are not in place to shield grantors from their financial responsibilities created by divorce.

Thus, even though Nevada has the best asset protection laws in the country, child support, alimony and other court mandated financial obligations are nearly always paid.

The self-settled spendthrift trust is not a workaround when it comes to fulfilling child support and alimony mandates, those who can pay will still have to pay.

Nevada Paves The Way

Residents of Nevada can now rest assured that their assets in trust are safe, and the courts won’t allow them to be tapped. Nevada now has the most current and strongest precedent when it comes to asset protection and other states would be wise to follow suit.

Alliance Trust Company of Nevada is proud to support asset protection trusts and may serve as an independent trustee if the grantor is out of state. Now is the time to take advantage of the strongest asset protection laws in the country. Need help creating a Nevada Asset Protection Trust? We work with a network of attorneys that specialize in Nevada Asset Protection.

How to fill out your PDF form

Once you know how you can quickly and conveniently fill out PDF forms

There are two types of PDF forms you may encounter: interactive and flat. Interactive forms have live fields you can place your cursor in and fill out. Flat forms contain no live fields and you will have to use a program to add text to them.

The forms you will be completing for Alliance are all interactive forms, so you shouldn’t have to create your own fields to complete them.

Download and submit forms with Alliance Trust Company of Nevada in 5 Easy Steps

  1. Find and download the requested form from our Forms Page.
  2. Fill out all fields of the form from any device.
  3. Save completed form to your chosen device.
  4. Open ShareFile link and fill in your name and email address and click “Continue.”
  5. Either drag your form to the Upload Window or click “Browse files” and select the form. Then click “Upload.”

As stated above, our forms are interactive and should not require additional apps or software to complete. However, if you encounter any issues with our PDF forms, there are a few programs we recommend that will assist you.

3 Great Programs for Filling Out PDF Forms

Here are a few programs you can use to fill, sign and save your PDF forms no matter what type of field you encounter.

Adobe Acrobat or Acrobat Reader

Works with Any Operating System Adobe Acrobat and Acrobat Reader are paid applications that you may not have access to, however, if you do have these programs you can easily fill out your PDF forms with them.

If your form is interactive:

1. You will see a purple bar at the top of the PDF, within that purple bar there will be a button that says, “Highlight Existing Fields,” click that to see what areas have been made fillable on your PDF.

2. Your cursor should change to an I-beam when you hover over form fields, and you can fill out accordingly.

3. You will be able to submit the form by clicking the “submit” button, which will send the information you entered either to a server or create an email you can send.

If your form is flat:

1. There will be no fields that you can automatically fill in on a flat form. First, you’ll need to download the PDF form to your computer and open in Adobe Acrobat or Acrobat Reader.

2. Select Tools > Fill & Sign, this will open up a toolbar at the top of the PDF.

3. In this toolbar select Add Text, it looks like this ->.

4. Place your cursor over the area where you want to add text and click and start typing. You will be able to resize the text box and format as needed.

5. You can even add annotations (check marks, cross marks, circles, lines, and dots) to a flat form by selecting them from the toolbar. Select the annotation you want and then click on the form where you would like it to go.

6. If you need to sign your form, select the Sign icon from the toolbar and choose from the provided signatures. Then place your signature where you want it on the form.

7. Save your PDF to your computer.

PDFescape

Works With Any Operating System This program is free and entirely online, no downloading necessary. You can fill out PDF’s with pre-existing form fields or add text to flat forms. All you have to do to get started is create a free account.

If your form is interactive:

1. Upload your PDF into PDFescape.

2. Fill out the existing form fields.

3. Select “Save and Download” from the menu.

If your form is flat:

1. Upload your PDF into PDFescape.

2. Select “Form Field” from the options on the top left and place the field in the appropriate spot on your PDF form.

3. Click in your newly created form field and type your response.

4. If you would like to add annotations, select “more” from the menu on the top left and choose your annotation. Place your annotation in the appropriate spot on your PDF form.

5. If you need to add a signature you can either use the “freehand” option and draw your signature with your cursor, but a better way is to add your signature as an image and place that image on the PDF.

6. Select “Save and Download” from the menu.

Preview for Mac

Works on Mac OS X If you have a Mac, this option is free for you. You can fill out any existing forms with Preview for Mac, but you cannot create new form fields. You can add a signature to any PDF whether it’s an interactive or flat form.

If your form is interactive:

1. Open your PDF in Preview.

2. Click within your form field.

3. Type your text.

4. Save your PDF to your computer.

To add a signature:

1. Click the Show Markup Toolbar button.

2. Click the Sign button on the toolbar.

3. Follow the prompts to create your signature and save it. You can either use your trackpad to sign or add an image of your signature.

4. Drag your signature to the appropriate place on your PDF.

5. Save the PDF to your computer.

Join Us at the 2017 STEP International Tax and Estate Planning Forum

Covering Tax Transparency, Tax Planning, and Other Estate Planning Matters During the Trump Era

The Society of Trust and Estate Practitioners (STEP) is hosting their annual STEP International Tax and Estate Planning Forum on Thursday, May 4th, and Friday, May 5th in Los Angeles, California. As a proud sponsor of this important estate planning conference, we are looking forward to meeting and learning from some of the top minds in the estate planning industry.

Conference Schedule for the STEP International Tax and Estate Planning Forum: Around the Globe in 2017

The topics for this estate planning conference include:

  • Global tax transparency and the need for effective dialogue with onshore governments
  • Tax planning for private clients in a changing world
  • International enforcement cooperation on tax and related matters in a Trump era
  • Ethical issues for the international private client advisor
  • Privacy, transparency, and wealth planning for today’s international client

The conference also includes networking lunches on both days, as well as a networking reception.

Day One: Thursday, May 4, 2017, from 7:00 am to 5:30 pm

The schedule events for Thursday are as follows:

  • 7:00 am – Continental Breakfast and Registration; Exhibits Open
  • 8:00 am – Pictet North America Advisors SA Special Presentation
  • 8:30 am – Opening Remarks by M. Katharine Davidson TEP, STEP USA Chair
  • 8:50 am – Keynote: Tax Planning for Private Clients in a Changing World
  • 9:20 am – Panel 1: International Enforcement Cooperation on Tax and Related Matters in a Trump Era
  • 10:20 am – Networking Break
  • 10:45 am – Panel 2: Special Issues Involved in Cross Border Family and Marital Disputes
  • 11:45 am – Panel 3: Understanding the Real Needs of Wealth Owning Families Connected to Asia: Focus on Greater China and Links with U.S.
  • 12:45 pm – Lunch
  • 2:00 pm – Panel 4: Ethics and the International Advisor
  • 3:00 pm – Panel 5: Practical and Technical Issues for the Immigrating Client: Income Tax, Transfer Tax, and Immigration
  • 4:00 pm – Networking Break
  • 4:30 pm – Panel 6: The Art Market 2017: Issues and Red Flags for Collectors and Their Professional Advisors
  • 5:30 pm – Reception
  • 8:00 pm – Dinner on your own in Laguna Beach

 

Day Two: Friday, May 5, 2017, from 8:00 am to 5:00 pm

The schedule events for Friday are as follows:

  • 8:00 am – Continental Breakfast and Registration; Exhibits Open
  • 8:55 am – Opening Remarks by Lawrence H. Heller TEP, Former U.S. Council Representative for STEP Worldwide
  • 9:00 am – Keynote: Global Tax Transparency and the Need for Effective Dialogue with Onshore Governments
  • 10:00 am – Panel 7: Challenges of Cross-Border Trust and Estate Administration
  • 11:00 am – Networking Break
  • 11:30 am – Panel 8: Advanced Planning for the U.S. Beneficiaries of Foreign Trusts: Technical Session by a Panel of U.S. Tax Practitioners
  • 12:30 pm – Lunch
  • 1:30 pm – Panel 9: Does My Family Need Family Governance or a Family Office?
  • 2:30 pm – Panel 10: Exchanging Information by Fair Means or Foul: The Impact on Wealth Planning and Structure for International Private Clients
  • 3:30 pm – Networking Break
  • 4:00 pm – Panel 11: U.S./Canada: U.S. New Canadian-style Deemed Disposition Rules: Put on Your Income Tax Hat
  • 5:00 pm – Sponsor Drawings, Final Remarks and Close

See the full conference brochure here.

How to Register for the STEP International Tax and Estate Planning Forum

If you are a STEP member, you only have to pay $895. Otherwise, the cost of admission for non-members is $995.

Registering for the conference is simple. Follow these steps:

  1. Click this URL https://www.regonline.com/Register/Checkin.aspx?EventID=1866050
  2. Enter your email address and select the registration type, then click “Continue”
  3. Follow the instructions provided to complete your registration

Shortly after registering, you should receive a confirmation email that includes information about the event.

Where to Stay When Attending the STEP International Tax and Estate Planning Forum

The conference will be held at the Surf & Sand Resort in Laguna Beach, CA. You can stay there for the most convenient location or you are welcome to stay anywhere else in the area. Room availability is on a first-come-first-serve basis, so you should book your hotel room promptly to ensure you get a room before they sell out.

We are excited to sponsor and attend this conference and hope to see you there. You can meet the Alliance Trust Company of Nevada team at the International Estate Planning Institute for a cup of coffee or a handshake and hello. Email Greg Crawford

Why Nevada is the Ideal Situs for Your Dynasty Trust

A Nevada Dynasty Trust Proves to Be More Secure Than a Delaware Dynasty Trust

When you are searching for a state with friendly trust laws to protect your family’s assets, two states at the top of your list are undoubtedly Nevada and Delaware. Although Delaware is a great state overall for establishing a trust or business entity, more people realize that Nevada might be a better choice.

Before we discuss some of the benefits of a Nevada Dynasty Trust, we are going to share a recent case in Delaware in which a divorcing spouse was able to break the assets free from a Delaware Dynasty Trust. Since protection from divorcing spouses is one of the top concerns for those establishing a Dynasty Trust, it is important to know where each state stands on this issue.

A Potential Problem with a Delaware Dynasty Trust

Kiplinger recently published an article that explains why a Nevada Dynasty Trust may have an advantage over a Delaware Dynasty Trust. The article was written by Jeffrey M. Verdon, Esq., a California-based lawyer who specializes in taxation and comprehensive estate planning.

Mr. Verdon discusses two cases where a divorcing spouse was granted access to the assets in a Delaware Dynasty Trust established for the support and maintenance of the beneficiaries. In the more recent legal case, the ex-wife gained access to assets in a Delaware Dynasty Trust – despite the fact that the trust dictated the husband, his spouse, and descendants as the sole beneficiaries.

“[…] in Nevada, a divorced spouse will not be permitted to bust into a validly formed DDT or DAPT that was timely and properly established without the intent to defraud a creditor.

With the Kloiber v. Kloiber decision, Delaware’s case law now clearly allows for claims from these exception creditors. Therefore, as any qualified Nevada trust lawyer will tell you, the safest way to form a dynasty trust is to draft it as a discretionary trust, in a no-exception creditor state like Nevada, in which only the trustees have the sole authority to provide funds to beneficiaries.”

Mr. Verdon makes a strong point – Nevada’s trust laws have the upper-hand for those concerned about exception creditors possibly breaking into their trust.

The Nevada Dynasty Trust

A Dynasty Trust is an irrevocable trust that is exempt from estate tax, gift tax, and generation-skipping transfer tax. Beneficiaries of a Dynasty Trust can use all of the property and assets owned by the trust without the risk of losing those assets to creditors and divorcing spouses.

The Nevada Dynasty Trust is one of the most favored tools for asset protection by domestic and international families alike. It offers more thorough protection for a longer period than virtually any other trust available today.

In 2005, Nevada legislators passed Senate Bill 64, which amended Chapter 111 of the Nevada Revised Statutes, allowing a Nevada Dynasty Trust to protect assets for beneficiaries for 365 years. Previously, a Nevada Dynasty Trust was limited to 90 to 120 years.

Recently, this law was challenged in the Nevada Supreme Court – Bullion Monarch Mining, Inc. v. Barrick Goldstrike Mines, Inc. The court ruled unanimously in favor that the 365-year limit is the law in Nevada. This court ruling assures those considering a Nevada Dynasty Trust that their assets will indeed be protected as the law describes.

The Advantages of Nevada Trust Laws

Nevada’s trust laws are among the most friendly in the world for wealth management and asset protection. Below are more advantages for U.S. and non-U.S. citizens establishing a trust in Nevada.

Nevada Asset Protection Advantages:

  • Nevada has one of the shortest “seasoning periods” in the United States – a statute of limitations of two years on asset transfers to self-settled spendthrift trusts.
  • There is no prohibition on the settlor’s powers over the trust, except for making distributions to him or herself.
  • A Nevada Asset Protection Trust settlor can serve as co-trustee and manage the assets of the trust.
  • The single attack allowed on Nevada Asset Protection is a fraudulent conveyance, which requires a very high burden of proof.
  • Trustees cannot be forced to make discretionary distributions.

If you are interested in setting up a Nevada Dynasty Trust or learning more about your options for asset protection, please contact our team at Alliance Trust Company of Nevada today.

What You Need to Know About the STEP 13th Annual International Estate Planning Institute

Discover the Latest Developments Regarding International Estate Planning

STEP New York, STEP Mid-Atlantic, and the New York State Bar Association are hosting an important conference from March 23rd to March 24th in New York City – the 13th Annual International Estate Planning Institute. This is one of the premier estate planning conferences, and the panel includes distinguished guest speakers from around the world to discuss the most pressing topics for international estate planning in 2017.

At the International Estate Planning Institute, you will have the chance to meet and interact with bankers, accountants, trust and estate practitioners, and professionals from other related fields. Keep reading to learn more about this highly anticipated event.

What You Get From the International Estate Planning Institute

According to the International Estate Planning Institute agenda, you can expect to learn more about the following topics:

  • U.S. Taxation of Non-U.S. Persons, Foreign Trusts and Non-Citizen Spouses
  • New Developments
  • Private Placement Life Insurance: Legal and Practical Issues
  • Complex Issues in Foreign Trusts
  • Latest Developments in CRS and FATCA
  • Current Topics in Canadian – U.S. Estate and Trust Planning
  • Mexican – U.S. Estate Planning
  • Practical Issues in Moving Trusts Offshore and Onshore
  • U.S. SEC and Regulatory Issues for International Families
  • PFIC/CFC/Subpart F
  • Ethical Issues Regarding Offshore Accounts and Foreign Clients

The conference provides 13 total MCLE credits – 12 credits for Areas of Professional Practice and 1 credit for Ethics.

Day One: Thursday, March 23, 2017, from 8:30 am to 5:30 pm

The schedule events for Thursday are as follows:

  • 7:30 am to 8:30 am – Registration/Continental Breakfast/Exhibit Hall Open
  • 8:30 am to 9:20 am – Part I: U.S. Taxation of Non-U.S. Persons, Foreign Trusts and Non-Citizen Spouses
  • 9:20 am to 10:10 am – Part II: U.S. Taxation of Non-U.S. Persons, Foreign Trusts and Non-Citizen Spouses
  • 10:10 am to 10:30 am – Refreshment Break
  • 10:30 am to 11:20 am – New Developments
  • 11:20 am to 12:10 pm – Private Placement Life Insurance: Legal and Practical Issues
  • 12:10 pm to 1:40 pm – The Role of STEP in a Changing World
  • 1:40 pm to 2:30 pm – Complex Issues in Foreign Trusts
  • 2:30 pm to 3:20 pm – Latest Developments in CRS and FATCA
  • 3:20 pm to 3:50 pm – Refreshment Break
  • 3:50 pm to 5:30 pm – Current Topics in Canadian-U.S. Estate and Trust Planning
  • 5:30 pm to 7:30 pm – Cocktail Reception
  • 7:30 pm – Speakers Dinner

Day Two: Friday, March 24, 2017, from 8:30 am to 1:00 pm

The schedule events for Friday are as follows:

  • 7:30 am to 8:30 am – Registration/Continental Breakfast/Exhibit Hall Open
  • 8:30 am to 9:20 am – Mexican-U.S. Estate Planning
  • 9:20 am to 10:10 am – Practical Issues in Moving Trusts Offshore and Onshore
  • 10:10 am to 10:30 am – Refreshment Break
  • 10:30 am to 11:20 am – U.S. SEC and Regulatory Issues for International Families
  • 11:20 am to 12:10 pm – PFIC/CFC/Subpart F
  • 12:10 pm to 1:00 pm – Ethical Issues Regarding Offshore Accounts and Foreign Clients
  • 1:00 pm – Adjourn

How to Register for the International Estate Planning Institute

If you are a STEP or NYSBA member, you only have to pay $950. Otherwise, the cost of admission is $1,150.

Registering for the conference is simple. Follow these steps:

  1. Click this URL http://www.nysba.org/store/events/registration.aspx?event=0EN34
  2. Scroll down to the bottom of the page where you will see a button that says “LOGIN TO REGISTER”
  3. Click the button and create a profile if you don’t already have one
  4. Go back to the URL above and click on the button at the bottom of the page that should now say “REGISTER”
  5. Select the appropriate price option for you and enter your payment information

You should receive a confirmation email shortly after with details about the event.

Where to Stay When Attending the International Estate Planning Institute

You can choose to stay anywhere you prefer. If you would like to stay in the same hotel where the conference is located, use this dedicated booking page to book a room at the Crowne Plaza Times Square Manhattan.

Room availability won’t last long, so be sure to book your hotel room as soon as you register for the conference.

We are looking forward to this event and hope you will be there. You can meet the Alliance Trust Company of Nevada team at the International Estate Planning Institute for a cup of coffee or a handshake and hello. Email Greg Crawford

Protecting Your Assets with a Foreign Grantor Trust

Benefit from Nevada Trust Laws Without U.S. Tax Liability

Foreign grantor trusts present a unique asset protection strategy for non-U.S. individuals. Unlike a typical domestic trust, foreign grantor trusts are not subject to U.S. tax laws while offering the same level of protection.

One of the few downsides to having wealth is that it puts a target on your back for other people and organizations who want to take what you have. In fact, governments around the world are confiscating wealth at an increasing rate for a variety of reasons.

Creating a foreign grantor trust allows you to create a barrier of protection between your assets and anyone trying to gain access to them. Many wealthy individuals set up a foreign asset trust because it offers greater asset protection than what is available to them in their home countries.

Similar to other types of trusts, foreign grantor trusts involve a grantor, trustee, and beneficiary. In most cases, foreign grantor trusts are also revocable trusts.

Why Set Up a Foreign Grantor Trust?

The primary reason someone establishes a foreign grantor trust is that their ownership of particular assets is a liability to them. Perhaps they have creditors coming after them, they have unwanted taxes on their property, or they are at risk of a lawsuit. Whatever the case may be, they want their assets protected.

In addition to protecting your assets right now, a foreign grantor trust also allows you to secure your assets for future generations and to seek the advice of your trustee on the best strategies for growing your assets while held in trust.

If you own large amounts of property, you will have full access and will continue to enjoy all the benefits of your property as you have before moving the property into the trust.

When Should I Create a Foreign Grantor Trust?

Ideally, you want to approach asset protection with a long-term vision. Your strategy should take into account your plans for retirement and how you wish to distribute your assets after your time has passed.

However, the best time to form any type of trust is sooner rather than later. The reason is that it is harder to protect yourself from creditors and legal attacks after any individuals or organizations take action against you. The more time that passes from when you originally create your trust and when legal proceedings against you take place, the more your odds of protecting your assets exponentially increase.

Considering the current geopolitical environment and the favorable trust laws available, now is a better time than ever to set up a foreign grantor trust through a Nevada Trust Company.

The Benefits of a Foreign Grantor Trust

A primary benefit of setting up a foreign grantor trust is the confidentiality it provides for your assets. The trustee is responsible for managing your assets properly, and part of their job is ensuring the grantor maintains privacy without being discovered.

Aside from celebrities, most wealthy individuals prefer not to attract extra attention to their assets and their families. Whether they live in an unstable country or they simply prefer privacy for personal reasons, confidentiality adds an extra layer of safety.

A foreign grantor trust protects your assets from liability, debt, and lawsuits. Even if a stubborn creditor aggressively pursued assets in a foreign grantor trust, they would enter into an expensive and lengthy legal battle in the trust’s jurisdiction where you would have a substantial advantage. As a result, your trust creates a powerful deterrent that will prevent the majority of creditors from even trying to pursue legal action.

Foreign grantor trusts also protect you from your own government. For example, a judge in your home country can not force a foreign trustee to release assets from your trust to a creditor.

Where to Establish a Foreign Grantor Trust

Nevada has the best trust laws in the United States and among the most favorable trust laws in the world, for that matter. Wealthy international families have found Nevada’s unique laws advantageous and ideal for asset protection, privacy, and wealth management.

If you are interested in setting up a foreign grantor trust or exploring other options for asset protection, please contact our team at Alliance Trust Company of Nevada today. We are more than happy to answer any questions and help you decide on the best asset protection strategy for your particular situation.

Contact Alliance Trust Company of Nevada

What to Expect From the 51st Heckerling Institute on Estate Planning

The Country’s Leading Conference for Estate Planners

Alliance Trust Company of Nevada is again exhibiting at 2017’s Heckerling Institute on Estate Planning. The University of Miami’s Heckerling Institute is the premiere conference for estate planning professionals in the U.S.

Heckerling is a great opportunity for us to connect with our East Coast friends of the firm.

Each year the Heckerling Institute covers the most relevant and impactful issues for trust officers, wealth management professionals, attorneys, insurance advisors, accountants, elder law specialists, educators, and nonprofit advisors.

The 51st Heckerling Institute on Estate Planning hosted by the University of Miami is scheduled for January 9th through January 13th, 2017 in Orlando, FL. Registration costs $1,080, and early registration is highly encouraged. Register online here. Your registration includes admission to all educational sessions, continental breakfasts, the Institute reception on Monday evening and a set of materials in the format of your choosing.

The sessions offered at Heckerling Institute cover a wide variety of topics, allowing attendees to follow a comprehensive program track or a specialized track that only caters to your profession. Below are brief descriptions of the programs we are most interested this year. You can learn more about all of the programs here.

Recent Developments 2016

The 2016 presidential election, among other events, has some estate planning experts recognizing new planning opportunities and strategies regarding the future. The Recent Developments 2016 program features a panel of experts, including a U.S. Treasury Department rep, that will spend four hours discussing the impacts of the presidential election and the Section 2704 Proposed Regulations, as well as other notable developments.

The estate planning presentation is split between 1:30 pm to 3:30 pm and 3:45 pm to 5:30 pm on Monday, January 9, 2017. The presentation is followed by a Q&A session on Wednesday from 10:55 am to 12:35 pm.

The opening panel is always one of the most attended and entertaining presentations at Heckerling.

The expert panel includes:

  • Dennis I. Belcher
  • Ronald D. Aucutt
  • Catherine Veihmeyer Hughes
  • John W. Porter
  • Samuel A. Donaldson
  • Amy E. Heler

 

Focus Series

This year’s Focus Series dives into the most important issues around intra-family wealth transfers, such as planning for the retirement accounts of married couples, planning with portability, business succession planning, divorce/creditor protection, and using grantor-retained annuity trusts, known as GRATs. With proposed IRS section 2704 regulations imposing major restrictions on valuation discount planning.

With proposed IRS section 2704 regulations imposing major restrictions on valuation discount planning, GRATs will be a very popular topic at this year’s Heckerling.

This program features multiple sessions Monday through Thursday. Read more about the Focus Series to check the various session dates and times.

Focus Series speakers include:

  • Lester B. Law
  • Howard M. Zaritsky
  • Carlyn S. McCaffrey
  • Christopher R. Hoyt
  • Lauren J. Wolven
  • N. Todd Angkatavanich
  • S. Stacey Eastland
  • Richard S. Franklin
  • Julie Miraglia Kwon
  • Carol A. Harrington
  • Gideon Rothschild
  • Scott L. Rubin
  • Bruce M. Stone
  • Turney P. Berry
  • Christopher J.C. Jones
  • Charles A. “Clary” Redd

 

Fiduciary Tax and Administration

The newly added Fiduciary Tax and Administration program track features sessions regarding recent fiduciary case law, fiduciary income tax issues, fiduciary duties surrounding impact investing, avoiding trustee liability in common transactions, and drafting tax efficient trusts with creditor protection.

Nevada has the best trust laws in the U.S. and is frequently recommended by practitioners in the states, and globally, for these types of estate planning strategies.

Sessions in this program run from Tuesday through Friday. Read more about the Fiduciary Tax and Administration program to see exact dates and times.

Fiduciary Tax and Administration speakers include:

  • Lauren J. Wolven
  • Todd A. Flubacher
  • Stacy E. Singer
  • Steven E. Trytten
  • Jonathan G. Blattmachr
  • Mickey R. Davis
  • Steven B. Gorin
  • Dana G. Fitzsimons, Jr.
  • Melissa J. Willms
  • Richard W. Nenno
  • Susan N. Gary
  • George L. Cushing
  • John Goldsbury
  • Christine L. Albright
  • Richard S. Kinyon
  • Timothy P. Noonan
  • Benneta Park Jenson
  • M. Ruth M. Madrigal
  • John Tyler
  • Steve R. Akers

 

International Planning

The 2017 International Planning program track includes sessions on planning for non-U.S. persons investing in the U.S., recent trends in global tax transparency, and advising clients seeking U.S. tax deductions for international charitable donations.

As noted by Bloomberg Business Week and The Economist, Nevada is a top-tiered jurisdiction for trust planning with foreign grantor trusts.

The International Planning series features five sessions on Wednesday from 9:00 am to 3:30 pm.

International Planning speakers include:

  • Victoria B. Bjorklund
  • Michelle B. Graham
  • Scott A. Bowman
  • Ellen K. Harrison
  • Dina Kapur Sanna
  • Marnin J. Michaels
  • Joshua S. Rubenstein
  • Alan F. Rothschild, Jr.
  • Carolyn O. “Morey” Ward

 

Litigation and Tax Controversies

This year’s Litigation and Tax Controversies program explore topics on identifying critical pressure points in estate planning, the tax aspects of fiduciary litigation, avoiding malpractice claims, the role of an attorney as an expert witness, and recent cases involving fiduciaries.

The first session starts on Wednesday afternoon, and the proceeding sessions go throughout Thursday. View the full Litigation and Tax Controversies schedule here.

Litigation and Tax Controversies speakers include:

  • Dana G. Fitzsimons, Jr.
  • Melissa J. Willms
  • John W. Porter
  • S. Stacy Eastland
  • Louis A. Mezzullo
  • Robert W. Goldman
  • Margaret G. Lodise
  • Howard M. Zaritsky

 

Continuing Education

As the country’s leading conference for estate planners, The Heckerling Institute for Estate Planning provides continuing education hours where applicable. Read more about continuing education credits from the Heckerling Institute here.

Below are the maximum available hours for each profession.

Attorneys (CLE) – Between 28.5 and 34.5 hours Accountants (CPE) – 34 hours Insurance Professionals – Up to 28, depending on your state (learn more) Certified Financial Planners (CFP) – 30 hours Other Estate Planning Professionals – Between 27.75 and 33.5

If you would like to learn more about the 51st Annual Heckerling Institute on Estate Planning, read the full brochure here.

Meet the Alliance Trust Company of Nevada team at Heckerling for a cup of coffee or a handshake and hello. Email Greg Crawford

 

Nevada sets the benchmark in asset protection and privacy

While Nevada refines asset protection and privacy laws, other states are scrambling to follow suit.

Last month, the New York Times quoted me as they highlighted the many benefits of Nevada trust laws in the context of the Panama Papers and related concerns regarding tax compliance outside of the USA. Unfortunately, the typical wishes for family and financial privacy are, incorrectly, equated with tax-evasion in the popular press.

The vast majority of people establishing trusts in Nevada are taxpaying, honest, ethical people who are just seeking privacy for their financial affairs. Nevada is not a home for tax evasion or other financial fraud. The trust companies and financial institutions in our state adhere to very strict and regularly updated state and federal standards regarding illegal financial activities.

Alliance Trust Company complies with all reporting and documentation standards of both State and Federal agencies.

For example, the USA Patriot Act mandates financial institutions to adhere to strict reporting processes for all persons opening or amending existing accounts.

USA Patriot Act requirements for financial institutions

  • To help prevent money-laundering and funding terrorist activities, financial institutions must obtain, verify, and record identity information from all account holders. Both new and existing clients must give identification information.
  • Account holders must provide their names, both physical and mailing addresses, date of birth, and other documentation verifying their identities.
  • Government issued identification (e.g. driver’s license) and identification documents are copied and recorded for all account holders.

While it is true that Nevada places a higher standard on personal privacy than many states, Nevada has no interest in “hiding” funds. Nevada attracts legitimate funds from around the US and globe because our state has designed very attractive and wealth-friendly legislation.

Setting the Standard

For nearly two decades, Nevada has been enacting and developing a situs conducive to asset protection and just as importantly, privacy. In October of 1999, the Nevada legislature allowed for the creation of Nevada self-settled spendthrift trusts, more commonly referred to as Nevada Asset Protection Trusts. Combined with the excellent privacy features of Nevada’s LLC laws, it is very challenging to find a better place to structure your family’s assets.

Typical spendthrift trusts shield beneficiaries of the trust from potential creditors protecting the assets held in trust. Nevada takes this protection a few steps further.

What you need to know about Nevada Asset Protection Trusts:

  • Nevada Asset Protection Trust is self-settled. The self-settled piece of Nevada Asset Protection grants the settlor of the trust the same protections as the beneficiaries of the trust.
  • Nevada offers real protection. Nevada Asset Protection Trusts protect assets from all creditors including current and former family members and tort creditors (creditors with priority to collect).
  • Nevada offers a shorter statute of limitations than most states. Nevada Asset Protection Trusts carry a two-year statute of limitation, half of the four-year term most states offer. Moreover, once assets are in the trust, creditors must prove fraudulent or legal violation to collect even during the seasoning period.
  • Nevada Asset Protection Trusts are irrevocable, but… Nevada’s asset protection laws allow the trust settlor to make decisions regarding distribution, to serve as a co-trustee, and other powers related to managing the Nevada Asset Protection Trust. There is greater flexibility with these trusts than many people realize.
  • Nevada residency is not required. As long as you establish your trust in Nevada, you may live anywhere–in the U.S. or abroad–and take advantage of the many benefits Nevada trust law provides families.

Many states are chasing Nevada hoping to gain traction with the nation’s wealthy. However, we get it: the playing field doesn’t seem level for trust companies across the country.

Nevada carries no state income tax. Nor does Nevada have corporate income taxes. Investors across the country and the globe may enjoy the advantages of Nevada’s trust situs as long as investors establish their trusts in Nevada. Nevada has the best domestic asset protection laws in the country. Moreover, Nevada lawfully protects personal privacy.

Nevada will continue fortifying nearly 20 years of legislation that make Nevada the clear frontrunner in domestic asset protection and wealth management.

Alliance Trust Company is happy to answer any questions and address any concerns regarding Nevada’s privacy laws.

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