Trusts

With rising estate tax and gift tax exemptions, the qualified personal residence trust is less common than it once was, but some people in Nevada still have a QPRT as part of an estate plan. With a QPRT, the owner transfers ownership in the home to a beneficiary but...

People in Nevada can use irrevocable trusts keep control of assets that have been intended for their loved ones. Irrevocable trusts offer multiple advantages, such as tax savings, and may be more beneficial to use than revocable trusts or wills. It's important to note...

A charitable split-interest trust is one way that Nevada residents can donate to charity as well as providing an income for beneficiaries. These types of trusts have several other advantages as well. They can create income from properties that are not profitable...

Nevada residents who are creating an estate plan may want to consider setting up an IRA trust for their retirement account. An IRA trust can protect an account from creditors. It can also specify how distributions are made to beneficiaries. This may be useful if the...

Some Nevada residents who are creating an estate plan may be interested in a spendthrift trust. This trust is usually used to protect a beneficiary who is unlikely to be able to manage money responsibly. It might also protect assets from creditors and in the event of...

Nevada residents may know that a trust may be an effective estate planning tool. However, the trust doesn't work as intended unless it is properly funded. Assets that were meant to go into that trust may need to be looked at to determine how they were owned and by...

Nevada residents who are concerned about how they might pay for their funeral may want to consider a funeral trust. Planning a funeral ahead of time may help relieve loved of having to make difficult decisions while they are also dealing with grief. A funeral trust...

Nevada residents who are creating an estate plan may want to include a trust as part of it. However, in choosing someone to act as trustee, they might also wonder what duties that person is expected to perform. Trustees are not expected to be a financial expert, but...

Nevada residents who are making an estate plan may be interested in creating a charitable trust. A charitable trust has a number of differences from other types of trusts. The first is that the charitable trust does not necessarily have to identify a beneficiary. It...

Nevada residents who are responsible for administering trusts may find it to be confusing. It may be very complex, and designated trustees may find it to be overwhelming. If you are a trustee, your responsibilities include managing and distributing the assets held in...