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

Last modified: March 13, 2024

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 →

Posted in assest protection, assest protection trusts, Nevada, Nevada Trusts

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

Last modified: March 13, 2024

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 →

Posted in assest protection, assest protection trusts, Nevada, Nevada Trusts

Deciding Between a Will and a Trust? The Distinctions You Need to Know

Last modified: September 6, 2023

The Basics of Wills and Trusts and What You Need to Know About Probate

We get a lot of questions about the differences between a will and a trust – but there are a few more distinctions we think you should know.

Understanding how to protect your assets and your family requires knowledge of what protections your will, trust, or testamentary trust actually grants you and your beneficiaries.

Continue reading Deciding Between a Will and a Trust? The Distinctions You Need to Know →

Posted in assest protection, Estate Planning, Living Trusts, Trusts

Selecting a Successor Trustee: Is a Family Member Really the Best Option For You?

Last modified: November 10, 2023

Should You Choose a Corporate Trustee or Appoint Someone You Know?

When a family establishes a revocable trust, the grantor is, in many cases, the trustee as well. However, a revocable trust requires that the grantor appoints a successor trustee.

The successor trustee is on standby until the acting trustee dies or becomes mentally incapacitated and is unable to manage the trust.

You may think you know whom you would choose as a successor trustee, but it’s not as simple as appointing a family member and calling it a day. The successor trustee has many essential functions that take up time and resources.

If your family appoints this person, you must consider how other family members will view it and ensure there are no conflicts of interest.

Continue reading Selecting a Successor Trustee: Is a Family Member Really the Best Option For You? →

Posted in assest protection, Estate Planning, Trusts 1 Comment

Kaestner v. North Carolina: the Most Significant Trust Case In Nearly a Century

Last modified: November 10, 2023

SCOTUS Sides with Family Trust Over the State of North Carolina

The United States Supreme Court ruled on June 21st, 2019 that the taxation of The Kimberley Rice Kaestner 1992 Family Trust by the North Carolina Department of Revenue is unconstitutional.

The much-anticipated ruling stated that the presence of in-state beneficiaries alone does not empower a state to tax trust income. Beneficiaries experience more protection before a trust distribution and when the beneficiaries have no right to demand, nor are they sure to receive the income.

Continue reading Kaestner v. North Carolina: the Most Significant Trust Case In Nearly a Century →

Posted in assest protection, Trusts

Why You Need to Establish a Trust Versus a Will: Protect Both Your Assets and Your Privacy

Last modified: July 11, 2024

Have a will, but don’t think you need a trust? You may want to think again.

It’s a misconception that trusts are only for the ultra-wealthy. For many people, a trust should be an essential part of a sound and smart financial strategy. If you don’t think you need a trust, here are a few examples of why you might:

Continue reading Why You Need to Establish a Trust Versus a Will: Protect Both Your Assets and Your Privacy →

Posted in assest protection, Estate Planning, Trusts

Understanding Nevada Asset Protection Trusts

Last modified: November 10, 2023

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 →

Posted in assest protection, assest protection trusts, Nevada, Nevada Trusts 1 Comment

Using NING Trusts to Significantly Reduce State Income Tax Liabilities

Last modified: November 10, 2023

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 →

Posted in assest protection, assest protection trusts, Estate Planning, Nevada, Nevada Trusts, NING, NINGs, Taxes, Trusts, Uncategorized 1 Comment

The Government of Kazakhstan Knows my Retirement Account Balance?

Last modified: November 10, 2023

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? →

Posted in assest protection, assest protection trusts, Estate Planning, Financial News, Nevada, Nevada Trusts, privacy, Taxes, Trusts Tagged

Alliance Presentations in San Diego – Recap of the Gathering

Last modified: November 10, 2023

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 →

Posted in assest protection, assest protection trusts, decanting trusts, Estate Planning, Las Vegas, Nevada, Nevada Trusts, NING, NINGs, Reno, Silicon Valley, Taxes, Trusts
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