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.

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

Why Sand Hill Road Uses Nevada Trust Strategies

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.

Continue reading Why Sand Hill Road Uses Nevada Trust Strategies

Relocating Out-of-State? It’s Important to Update Your Estate Plan

Many people move as part of their careers or move when they retire to more favorable climates and tax environments.  It’s almost a cliché how New Yorkers retire to Florida, and how Californians are moving to Nevada.  In fact, Florida just surpassed New York’s population and Nevada is now the second fastest-growing state in the country.  Often lost in the excitement of a new chapter in life, is the need to update your estate plan.  An excellent article by Nevada attorney Scott Halvorsen addresses the issue here.  Of course, your estate plan should always be reviewed when buying or selling property, but also for additional critical issues related to your living will/healthcare directives.  Estate planning laws vary significantly from state to state, and all aspects of your plan should be reviewed whenever one relocates.  Nevada is considered to have the best estate planning and trust laws in the country.  For more information, contact Alliance Trust Company in Reno at 775-297-4000.

Decanting an Irrevocable Trust in Nevada – Modernize an Irrevocable Trust

Many people believe that once a trust becomes irrevocable, 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 considered to have some of the best and most flexible trust laws in the country and is considered one of the most favorable jurisdictions for decanting.  Please call Alliance Trust Company at 775-297-4000 for more information.

State of the Union to Propose Stealth Increase of Estate Taxes

whitehouse_historypg

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 families facing estate tax burdens.  Some of the best strategies use Nevada Trusts – the best state for asset protection and tax minimization.  Please call Alliance at 775-297-4000 for more information.

Social Media Executives Making a Splash in Nevada

Nevada has long attracted Californians – for vacation, second homes,  family trusts, and business relocation.  The influx of Californians is reshaping Northern Nevada from the sage brush valleys being transforming into sophisticated factories, to the new shops and restaurant popping up in downtown Reno.  The ripple effect from Silicon Valley to Reno is gaining speed.  Just over Mt. Rose from Reno, Lake Tahoe has always been a favorite spot for those from the San Francisco bay Area, an easy 4 hour ride (in a Tesla) or 30-minute flight away.  Many Silicon Valley pioneers have used Nevada’s most-favorable trust laws to protect and grown assets for generation to come – now many of the newer household names from social media giants are using Nevada Trusts for their families and making a new generation’s claim in Lake Tahoe.

Welcome to Reno, Tesla Motors!

Since its founding in 2005, Alliance Trust Company has provided high-quality, flexible trustee services in Reno for families across the country.  We were attracted by Nevada’s favorable trust laws and business climate, which many believe are the best in the country.  Over this time, we have seen the national perception of Reno change from the like of Reno 911 and a “poor man’s Vegas” to that of a new hub for drone research, Silicon Valley  spill-over companies and and various other industry start-up companies.  Even the New York Times has taken notice of Reno.  Alliance Trust, offering to families nationally the important benefits of asset protection trusts, dynasty trusts and the potential to minimize taxes in Nevada, has grown along with the city and region.

Now Tesla has announced that it will build its much anticipated gigafactory just outside of town, bringing billions of dollars in investment, thousands of new jobs to the region and spin-off economic activity.  In the press conference announcing the deal, Tesla founder and CEO noted that Nevada is a state that “really gets things done.”  We certainly agree, Elon, and look forward to our new neighbor in Northern Nevada – welcome to Reno, Tesla!

Nevada Wins Poll for Best State for Your Trust

In a recent poll with over 150,000 participants, Nevada was crowned the top jurisdiction in the United States for trusts.  Nevada garnered 64% of the votes, with other states (Alaska, Delaware, and South Dakota)  sharing the other 36%.  Attorneys across the country have long noted the favorable trust laws in Nevada, which allow families to better protect their heirs and assets and minimize both federal estate and state-level income taxes.  The best part about Nevada trusts?  You don’t have to live in Nevada to establish one.  To find out all of the ways a Nevada trust could benefit your family for generations to come, please call Alliance at 775-297-4684.

Larry Ellison Sells a Lake Tahoe, Nevada Property for $20 Million

glenbrook-pier

Wealthy Californians have relocated and reshaped Nevada for generations.  Automotive magnets, technology pioneers, and entertainers all seek to benefit from Nevada’s Structural Alpha.  The attractive business environment and the best trusts laws in the country offer Californians the opportunity to better protect their families and charitable interests, while also minimizing taxes (free download of strategies here).  The calm cool breezes in Lake Tahoe and a myriad of entertainment and dining options in Las Vegas don’t hurt either. It looks like another sale of a property is bringing in another new Californian to Nevada with the sale of one of the premier properties on the Nevada side of Lake Tahoe.  The transaction, announced by the Wall Street Journal today, was curiously structured into a California LLC (Nevada has more favorable LLCs laws than CA).  We at Alliance suspect that this will be corrected shortly.  People of all levels of wealth regularly use Nevada in their estate planning.  For more information on how your family can benefit from Nevada laws, without requiring relocation, please contact Alliance Trust in Reno at 775-297-4000.

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