Currently, twenty states have authorized the use of asset protection trusts. Nevada has many advantages over many of these states:
- Nevada does not tax the income of trusts. Most states do.
- The statute of limitations on the transfer of assets is only twenty-four months while most states require three or four years to establish the protection of these trusts.
- Nevada allows for directed trusts, which enables the grantor to name an independent financial advisor to manage the funds of the trust.
- Most importantly, the Nevada legislature is continually improving the laws in this area, in each legislative session.
Anyone in any state can set up an asset protection trust in Nevada. You just need a Nevada resident trustee or co-trustee
