Benefits of A Nevada Spendthrift Trust NRS 166.020
| This section may be unbalanced towards certain viewpoints. Please improve the article by adding information on neglected viewpoints, or discuss the issue on the talk page. |
For example, the Nevada Property Code provides:
A. There is no personal or corporate income tax imposed by the state of Nevada.
B. A Irrevocable Spendthrift Trust if properly formed in the State of Nevada, is currently not subject to income taxes of other States, as long as the Nevada Spendthrift Trust is qualified to do business in the other State (s).
C. A Nevada Spend Thrift Trust is only subject to Federal Income Tax.
D. The Settlor has the right to change beneficiaries, or add other beneficiaries at anytime without notification to any beneficiary past or present, or the state of Nevada, or the Federal Government.
E. All rights and privileges of a Spendthrift Trust formed in the State of Nevada are clearly set out in a concise set of statutes in Nevada and are not dependent on court decisions or interpretations for the validity of the Trust.
F. There are no registration fees, annual reporting fees or any other recurring fess charged by the State of Nevada or any local Government for the continued validity of the Trust. The Trusts are also not required to retain a Resident Agent in the State of Nevada.
Read more about this topic: Spendthrift Trust
Famous quotes containing the words benefits of a, benefits of, benefits, spendthrift and/or trust:
“One of the benefits of a college education is, to show the boy its little avail.”
—Ralph Waldo Emerson (1803–1882)
“In America the young are always ready to give to those who are older than themselves the full benefits of their inexperience.”
—Oscar Wilde (1854–1900)
“When your parents are in political life, you aren’t normal. Everybody talks about the benefits, but I don’t know what the benefits are.... But I’d rather have that kind of mother than an overweight housewife.”
—Katherine Berman Mariano (b. 1957)
“We must have more money, that’s all there is to it. There must be more money.”
—Anthony Pélissier. The constant complaint of the spendthrift Mrs. Grahame (1949)
“Play the man, Master Ridley; we shall this day light such a candle, by God’s grace, in England, as I trust shall never be put out.”
—Hugh Latimer (1485–1555)