Benefits of A Nevada Spendthrift Trust NRS 166.020
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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
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