Trust planning can protect assets and provide privacy
There are many reasons that Nevada families often look to trust planning as one way to protect their assets and provide privacy to their family. A living trust allows the individual to maintain control over the assets and alter the trust during his or her lifetime....
Gifts to a trust could help with tax obligations
Many Nevada residents have recognized the benefits of using a trust to effectively transfer assets and lighten the estate tax burden. Currently, gifts given to a trust during the individual's lifetime may result in a gift tax. While this tax may not actually be paid...
Who is preparing the living trust and other documents?
As people age, they often begin to think about their future and what they will leave behind for their loved ones. Decisions made regarding these issues can be both financial and emotional ones. When emotions come into play, it becomes easier for a scam artist to...
A revocable living trust may be more beneficial than probate
As individuals begin to think about transferring assets upon death, many questions arise regarding the best way in which to do this. Many Nevada residents recognize the need to make these decisions; however, there is often confusion surrounding which way would be most...
Trust planning can avoid problems in transferring assets
As a person ages, it is likely that he or she will begin to think about how they want their assets distributed upon their death. It is fairly safe to assume that the typical Nevada resident would prefer to decide who will receive a portion of their assets rather than...
Use of out-of-state trusts to reduce tax burdens
While many Americans take advantage of states with no income taxes (like Nevada), the placing of financial assets into trusts is gaining scrutiny from officials in other states. For example, individuals who are in the process of selling a company may move shares...
Surtax imposed on investment income of trusts and estates
There is a new 3.8 percent federal tax that will be imposed upon net investment income from trusts and estates. The tax will be applicable to these trusts and estates if the gross income exceeds $11,950. While the law actually became effective January 1,...
Specialized domestic trusts can function like offshore accounts
As many Las Vegas residents know, planning and organizing your estate is not exactly a "fun" thing to do; nor is it the most straightforward process. There are many tough decisions that people need to make, and they need to think deeply about all of these decisions....