Nevada Living Trust Advantanges
There are many Nevada Living Trust advantages. As a summary, I’ve listed the top 10 ten–although there are many more. This list is specifically for revocable living trusts. Most trusts that we review do not have many of these benefits but we hope that by giving this list folks will consider how powerful their trust can be.
1. Trusts avoid probate (if properly funded).
2. Trusts can be used to help avoid conservatorship and/or guardianship.
3. Trusts can used to protect assets for a spouse once one spouse dies.
4. Trusts can be drafted to shield a child’s inheritance from divorce, lawsuits, bankruptcy and IRS claims that arise against that child.
5. Trusts can protect grandchildren from divorce, lawsuits, bankruptcy and IRS claims that arise against that grandchild.
6. Trusts can prevent Gold Diggers from taking over the assets when one spouse dies.
7. Trusts can minimize estate taxes.
8. Trusts can protect your step-children from making claims against your children’s inheritance.
9. Trusts can offer central management of family assets.
10. Trusts can pass your values to your beneficiaries such as education and entrepreneurship.