Part 2: Asset Protection and Nevada Asset Protection Trusts, Frequently Asked Questions

Key Takeaways

Nevada Asset Protection Trusts offer:

  • Enhanced Security: Strong protections against creditors.
  • Short Statute Limitations: Only two years for challenges to asset transfers.
  • Beneficiary Flexibility: Allows settlors to also be beneficiaries.

Check out our Asset Protection Trust services.

Examining Nevada Asset Protection Trusts: Common Questions Our Trust Officers Receive

In Part 2, we examine typical questions regarding Nevada Asset Protection Trusts. Nevada Asset Protection is sought after globally, and among the primary reasons estate planners look to Nevada as their preferred trust jurisdiction.

In part 1, we answered six general questions we often receive about Asset Protection Trusts in general.

Continue reading Part 2: Asset Protection and Nevada Asset Protection Trusts, Frequently Asked Questions

Part 1: Asset Protection and Nevada Asset Protection Trusts, Frequently Asked Questions

Key Takeaways

Nevada Asset Protection Trusts offer:

  • Robust Protection: Safeguard assets from creditors effectively.
  • Flexibility in Estate Planning: Tailor to individual financial situations.
  • Irrevocable Trust Advantages: Provides strong legal asset protection.

Check out our Asset Protection Trust services.

Six Common Questions Regarding Asset Protection Trusts

Part 1 focuses on general Asset Protection Trust questions we often receive from families and advisors. Part 2 focuses on Nevada Asset Protection Trusts.

Continue reading Part 1: Asset Protection and Nevada Asset Protection Trusts, Frequently Asked Questions

Five Reasons a Special Needs Trust Could Be Right for Your Family

The top five reasons you should consider a Special Needs Trust to protect family members with disabilities

Special Needs Trusts are designed specifically to benefit those with physical or mental disabilities and those without the ability to manage their own finances. Special Needs Trusts serve to protect the beneficiary financially and if structured appropriately, allow the beneficiary to continue to receive essential government assistance.

The trustee appointed to a Special Needs Trust can be a trustworthy family member or a third-party trustee. Choosing the right trustee is vital to the success of the trust, especially when establishing a trust for a younger beneficiary.

Many families are unsure of whether or not they would benefit from a Special Needs Trust. It’s important to talk to a reputable trust company or attorney to get a better understanding of your specific situation.

Continue reading Five Reasons a Special Needs Trust Could Be Right for Your Family

Understanding Nevada Asset Protection Trusts

Why Nevada’s Asset Protection Trust Laws Keep Your Wealth Safer Than Any Other State

The state of Nevada has dominated the asset protection space and positioned itself as the most beneficial situs to establish an asset protection trust.

Precedent-setting cases and favorable trust laws have launched Nevada to the forefront of the estate planning industry and allowing trustees and estate planners flexibility, privacy, and the power to protect wealth and assets more securely than any other state.

Continue reading Understanding Nevada Asset Protection Trusts

Using NING Trusts to Significantly Reduce State Income Tax Liabilities

Why Wealthy Families are Choosing to Shift Their Wealth to the Tax-Favored State of Nevada

The state of Nevada is considered a tax-favored environment, allowing maximum tax protection over trusts and estates. That’s just one of the reasons why more and more people are choosing Nevada to establish their trusts.

The “NING” trust or Nevada Incomplete-gift Non-Grantor trust reduces state income tax liabilities and simultaneously provides asset protection benefits.

For people with substantial income, assets, or large capital gains who could generate significant Federal and state income tax shifting a trust from its current state to a state with more favorable tax laws, such as Nevada, could create significant income tax savings.

While moving to Nevada would allow someone to take advantage of these benefits, relocating family is often not an option. However, by establishing a NING and transferring assets from the existing trust into the NING, the trust will only face Federal capital gains taxes.

Continue reading Using NING Trusts to Significantly Reduce State Income Tax Liabilities

2017 Tax Reform Act Creates Estate Planning Opportunities

The window for historical estate planning exclusions is open… for now.

On December 22nd, President Donald Trump signed the 2017 Tax Reform Act into law doubling the estate and gift exclusion, and generation-skipping transfer (GST) exemption amounts. This is the most significant tax reform since 1986.

Continue reading 2017 Tax Reform Act Creates Estate Planning Opportunities

Alliance Trust Company of Nevada in The Economist

Typically well-reasoned and published since 1843, many believe that the Economist is the finest English-print magazine in the world.  The magazine tackles complex global issues with a balance and perspective that only a 170+ year history can provide.

That is why, in the context of the media fury surrounding the “Panama Papers,” the Economist’s suggestion to publish individual global tax returns (April 9th edition) deserved to be publically questioned.  To the credit of the publication, Alliance’s letter to the Editor is published in the April 30th print edition.

In the letter, the President of Alliance Trust argues that no benefit will come from such a disclosure plan or the OCED’s related “Common Reporting Standards.”  The impact of sharing detailed personal financial information with rogue governments around the world will not increase U.S. tax revenues by a cent.  In fact, the only meaningful outcome of the proposals is to violate basic personal privacy significantly increases the physical and financial risk to law-abiding citizens and their families around the world.

The Government of Kazakhstan Knows my Retirement Account Balance?

The New York Times “Room for Debate” opinion pages recently asked Alliance Trust Company in Reno to comment on the Panama Papers and the advantages of and lawful usages of shell companies.  In this piece, Alliance notes that the vast majority of these companies are used legally, providing a layer of security and privacy for international families in an increasingly dangerous world.

Continue reading The Government of Kazakhstan Knows my Retirement Account Balance?

Alliance Presentations in San Diego – Recap of the Gathering

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.

Continue reading Alliance Presentations in San Diego – Recap of the Gathering

Awareness of NING Trusts Growing Nationally

Nevada Incomplete Non-Grantor Trusts (or, “NINGs”) are growing in popularity and usage across the country. NINGs provide the grantor of the trust asset protection and the potential to minimize local and state income taxes on investable/intangible assets.  As this NASDAQ.com Article on NINGS, these types of trusts are not for everyone.

Continue reading Awareness of NING Trusts Growing Nationally

Want us to give you a call?

Let our experienced team help you with your trust needs

By providing my phone number to “Alliance Trust Company, LLC”, I agree and acknowledge that “Alliance Trust Company, LLC” may send text messages to my wireless phone number for any purpose. Message and data rates may apply. We will only send one SMS as a reply to you, and you will be able to opt out by replying “STOP”. For more information on how your data will be handled please visit https://alliancetrustcompany.com/privacy-policy