Trusts

People in Nevada have the option of forming spendthrift trusts to transfer assets to beneficiaries. These legal instruments also go by the label of domestic asset protection trusts. Although they possess features that could protect assets, the grantor of the trust...

Charitable trusts are governed by somewhat different rules than other types of trusts. People in Nevada who are creating an estate plan that includes a charitable trust may be interested in learning that it can last into perpetuity unlike other types of trusts. This...

One of the estate planning tools that Nevada residents can use to protect certain assets for their heirs is an irrevocable trust. The nature of this particular type of trust prevents its provisions from being modified or cancelled, except in some cases with the...

Nevada residents who prepare a living trust in most cases name themselves as the trustee. In many cases, spouses are both named as trustees. However, it is possible that each spouse may pass away sooner than expected. To account for this, a successor trustee is...

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 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...