Lake Tahoe

Alliance Trust Company in Reno has a sizable client base in Silicon Valley, as many prominent residents in this influential area look east to Nevada when doing their estate planning.  Nevada is considered to have the best trust laws in the country, with dynasty trusts, asset protections features and no income taxes in a private, non-public structure.  Many Bay Area residents ski and vacation in Lake Tahoe, so establishing trusts in Nevada doesn’t seem as foreign as it does in South Dakota, or Delaware.  Recently, after an IRS Private Letter Ruling, a new type of trust is rapidly gaining popularity, the NING Trust.  This type of trust, known also as a “Nevada Incomplete Non-Grantor Trust” removes investments in trust from California taxes. In this excellent article by Southern California attorney Gordon Schaller, the detailed options for California residents using NINGs is covered.

 

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