The State of Nevada has been recognized as a leading trust-friendly jurisdiction — for both residents and nonresidents alike — due to its modern laws and investment flexibility, among its other benefits. In this new report, our experts from The Northern Trust Company of Nevada provide analysis on the unique benefits of Nevada trusts.

These include, but are not limited to:

Favorable Tax Treatment. The ability to contribute assets to a trust that will continue for generation after generation without the imposition of any transfer tax, and potentially no state income tax, is an extraordinary opportunity when compared to the alternative of passing assets outright, from generation to generation, subject to a federal transfer tax at each generation.

Long-Term Wealth Enhancement. Nevada’s statute permits a Nevada trust to last 365 years. For an individual who has created wealth and now wants to pass it to children, grandchildren and successive generations, a long-term trust can provide a family savings vehicle.

The Flexibility to Direct. Although most states have some form of statute that allows a trustee to be directed on matters such as investments, distributions, tax compliance or perhaps a combination of these functions — Nevada has been a leader in developing the law of directed trusts.

Confidentiality. For a variety of reasons, trustees may not want to inform  beneficiaries about a trust or their interests in it. Nevada statutes provide this flexibility, allowing the trustee to withhold information about the trust from beneficiaries for a period of time directed by the trust instrument.

Protect and Preserve Wealth for Generations

Nevada is a favored jurisdiction for personal trusts due to its favorable trust and estate infrastructure, sophisticated legal and judicial system and its progressive and flexible legislative process. In this new report, our Nevada trust experts highlight the most significant legal and tax benefits, with actionable insights and strategies for protecting and preserving wealth for generations.

Disclosures

This information is not intended to be and should not be treated as legal, investment, accounting or tax advice and is for informational purposes only. Readers, including professionals, should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific legal, accounting or tax advice from their own counsel. All information discussed herein is current only as of the date appearing in this material and is subject to change at any time without notice.