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Why have a trust in Nevada?

A Nevada trust situs can protect assets from state tax liabilities and provide benefits such as greater asset protection and the ability to prospectively modify existing trust documents to reflect changing laws and circumstances.

Do you have to register a trust in Nevada?

The short answer is no. One of the great benefits of a living trust in this era where is it difficult to keep anything private and out of the public domain is that a living trust is confidential. It does not need to be recorded, filed, or registered except in certain circumstances discussed below.

How does a trust work in Nevada?

A Nevada Revocable Living Trust prevents your estate from having to be submitted to the probate process primarily because the Revocable Living Trust is a separate legal entity created during your life to hold your estate assets. However, you still control everything (unless you become incapacitated/pass away).

How are trusts taxed in Nevada?

Nevada does not have a state or fiduciary income tax. Irrevocable trusts are taxed at the state level on where the trustee resides. If a client has a Nevada trustee, the Nevada trusts may avoid filing a state income tax return. This helps reduce the erosion of trust assets by the tax rate.

Does Nevada have a state income tax on trusts?

Nevada does not impose any state income tax on income accumulated in, and capital gains realized by, an irrevocable trust.

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