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 →
After spending nearly a decade at our office on Kietzke Lane, Alliance Trust Company of Nevada has moved to a wonderful new location in downtown Reno. Our new office is in what is known as the “Museum Tower,” the former American headquarters of Porsche.
We founded Alliance Trust Company in 2005 and have experienced steady growth since. Our previous office space simply could not accommodate our growing business. We visited several attractive properties, but ultimately we knew the Porsche Building was where we needed to be.
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? →
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 →
A sad but familiar statistic was just released by CNBC this week, detailing that 38% of millionaire families in the US do not have an estate plan. That means four of ten people reading this article have not taken the simple steps needed to protect their family’s future. The article cites a variety of well-worn excuses, from the contact changes to the federal estate tax threshold to the natural reluctance to plan for and talk of your own demise. The consequences of inaction are devastating to those left behind. From the expense and hassles of probate, the courts naming guardians for minors, and to the very likely possibility that some or all of your assets are taken from the next generation by creditors, predictors, and ex-spouses. The reality is that with a little planning, these negative can be turned into a positive – leaving behind a legacy that helps many generations to come. It is an old adage, but highly appropriate with this news. The four often reading this article – all financially successful people – haven’t planned to fail, they have failed to plan. Nevada has the best trust laws in the country and has many estate planning strategies to better protect your family and potentially trim taxes. You do not have to be a resident of Nevada to establish a Nevada trust. For more information, call Alliance Trust Company in Reno at 775-297-4000.
Muchas personas son beneficiarias de fideicomisos familiares con cláusulas anticuadas y disposiciones que ya no tienen sentido. Sin embargo, muchas personas también creen que están «atrapados» con los términos del fideicomiso y que simplemente tienen que vivir con ellos independientemente de seguir adelante. Esto no es cierto. Algunos estados, entre ellos Nevada, permiten modificar incluso un fideicomiso irrevocable. Se pueden hacer modificaciones para ampliar la duración del fideicomiso, cambiar su sede y añadir o modificar poderes de nombramiento. Como señala este reciente artículo de la revista Forbes, incluso podría ahorrar impuestos para el fideicomiso como parte de este proceso. Se considera que Nevada tiene algunas de las mejores leyes sobre fideicomisos del país y cuenta con estatutos muy flexibles para modificar los fideicomisos. Para más información, llame a Alliance al 775-297-4000.
Muchas personas creen que una vez que un fideicomiso se convierte en irrevocable, no hay nada que se pueda hacer para cambiar y arreglar disposiciones anticuadas del fideicomiso familiar. Eso no es correcto. Algunos estados, entre ellos Nevada, cuentan con «disposiciones de decantación» que permiten modificar los fideicomisos irrevocables trasladando los activos del antiguo fideicomiso a un nuevo fideicomiso modernizado. El nuevo fideicomiso puede tener una mayor protección de los activos y/o ventajas fiscales. El proceso deja atrás las disposiciones fiduciarias no deseadas, como se dejan sedimentos al decantar el vino. La decantación puede hacerse rápidamente en Nevada, con un coste mínimo. Alliance Trust Company copresentará una ponencia en el Gathering de San Diego a finales de mes. Si está buscando opciones para modificar un fideicomiso irrevocable, en Nevada tiene muchas opciones que puede que no tenga en su estado de origen. Se considera que Nevada cuenta con algunas de las mejores y más flexibles leyes fiduciarias del país y es una de las jurisdicciones más favorables para la decantación. Llame a Alliance Trust Company al 775-297-4000 para obtener más información.
A trust is an important part of almost every estate plan. A trust is a much more cost-effective way to transfer property from one generation to the next. A typical estate plan will include a packet of documents, including a revocable living trust and will, a financial power of attorney and an advance healthcare directive. Together these documents make sure that your affairs are properly managed by someone you trust if you become incapacitated or pass away. The advantages of a trust as opposed to a simple will are numerous: your assets are transfer outside of probate (privacy), they are transferred faster and the administrative burdens on loved ones is minimized. But what if you don’t have an obvious family member to serve as trustee? A corporate trustee, such as Alliance Trust, can perform the same functions, utilizing a team of people with decades of experience to settle your estate. In this article, tips for selecting a good corporate trustee are listed. Alliance Trust in Nevada offers trustee services in Nevada, which offers some of the best laws in the country for trusts and estate planning.
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.
Alliance Trust apareció en el New York Times el fin de semana, debatiendo la cuestión de los «fideicomisos perpetuos». El enlace al artículo se encuentra aquí. El derecho fiduciario de Estados Unidos evolucionó a partir de Inglaterra, que mediante la jurisprudencia estableció la «Regla contra las perpetuidades» en 1682. Esta ley, perfeccionada por casos futuros, limitó efectivamente la duración del fideicomiso a aproximadamente 90-100 años. Recientemente, muchos estados y países extranjeros han derogado la norma o han ampliado la duración de los fideicomisos mucho más allá de la reliquia legal de la norma. Los fideicomisos de Nevada pueden durar hasta 365 años. Alliance analiza cómo reaccionaría un tribunal de Nevada si otro tribunal se declarase competente sobre un fideicomiso de Nevada, y cómo protege Nevada su sector de fideicomisos y sucesiones. Alliance ha trabajado durante años con la legislatura para mejorar y proteger lo que muchos consideran las mejores leyes fiduciarias del país. Si tiene preguntas sobre cómo un fideicomiso en Nevada podría beneficiarle a usted y a su familia durante generaciones, llame a Alliance Trust Company al 775-297-4000.
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
