NEVADA TAX ADVANTAGE
Greater flexibility, tax savings and protection.
More and more wealthy individuals and families are turning to Nevada for the greatest flexibility, optimal tax savings and maximum protection in their financial and estate planning. Whittier Trust Company of Nevada offers our clients the advantage of a tax favored environment. By taking advantage of our Nevada trust situs, clients avoid state tax and enjoy benefits such as greater asset protection and the ability to prospectively modify existing trust documents to reflect changing laws and circumstances.
Among Nevada’s benefits are:
- No state income tax on individuals, business entities, or trusts
- No state transfer taxes
- No inheritance taxes
- Protection from federal or state transfer tax or state income tax for dynasty trusts through a perpetuity period of 365 years
- Protection from personal creditors through a Domestic Asset Protection Trust
- Adoption of the Uniform Prudent Investor Act that measures performance on an entire portfolio
- Ability to convert an income interest into a unitrust interest
- Ability to establish a directed trust and use trust protectors
- Ability to appoint, or “decant”, property or assets from one trust to a second trust to take advantage of changes in law or resolve problems or issues in existing documents