Nevada Situs

Whittier Trust Company’s clients may benefit from the Nevada tax advantage. Because Nevada imposes no state income tax and no state capital gains tax, Nevada jurisdiction trusts may enjoy substantial income tax savings.  Other significant tax benefits are often associated with Nevada trusts as well.

Dynasty Trusts

A Nevada dynasty trust is an irrevocable trust which is established on or after October 1, 2005, and which leverages estate, gift and generation-skipping transfer tax exemptions for 365 years.  Both residents and non-residents of Nevada may establish dynasty trusts under Nevada law, although there must be a Nevada trustee.

When Nevada dynasty trusts are drafted correctly, trust assets are protected from estate taxes and from the beneficiary's creditor's, including divorcing spouses.  Nevada dynasty trusts enjoy additional tax savings because Nevada imposes neither an income nor a capital gains tax.

Ideal Jurisdiction for Many Clients

The combination of the dynasty trust law with Nevada's lack of state income tax makes Nevada an ideal jurisdiction for many clients.  Our Reno, Nevada office provides Nevada tax advantages to Whittier Trust Company's clients across the United States.  Whittier Trust Company of Nevada currently serves clients from 19 states.