Understanding the Different Types of Trusts
It is important to understand the benefits of each trust type to develop your asset management strategy that best meets your needs.
Our experienced team is proficient in the following:
- QPRT Trust: Allows people to transfer their primary home or vacation home to an irrevocable trust while keeping the right to live there for a set amount of time.
- NING Trust: Entails transferring income-generating assets to a sophisticated trust with no fiduciaries in the taxable state.
- Non-Grantor Trust: An irrevocable trust in which the grantor has no control over or income from the trust. It can offer asset protection as well as tax benefits by taxing income to the trust.
- Dynasty Trust: This is used to transfer wealth from one generation to another while reducing estate taxes. Dynasty trust protects assets over time and can help future beneficiaries avoid estate taxes.
- Corporate Trustee Services: This service entails designating a qualified bank or trust firm as the trustee of a trust. We offer knowledge, objectivity, and adherence to fiduciary duties.
- Directed Trustee: Operates under the advisor and manages administrative tasks while letting the advisor handle investment-related decisions.
- Irrevocable Asset Protection Trust: Designed to shield assets from prospective lawsuits and creditors. Individuals can keep some control over their assets.
Why Choose Nevada Trust Company® as Your Trust Services Provider?
With our extensive knowledge of Nevada trust laws and regulations, we are confident in providing specialized trust services that leverage the state’s favorable legal climate.
For more information about the different types of trusts, fill out our contact form and our team will get in touch with you shortly.
