nevada has a lot of good estate planning
related laws that you know entice other
people to consider nevada for different
estate planning needs i would say
our estate planning laws allow an estate
plan to perpetuate over generations
where a lot of other states they limit
how long a plan can perpetuate for after
somebody dies so for example in nevada’s
laws
you know clients that have larger
estates can can arrange so that their
estate plans can exist for up to 365
years which is basically an indefinite
period of time and so when you have
larger estates that clients want to pass
on to their loved ones
they can do that in a way where they’ll
perpetuate from generation to generation
and this allows them to not only
protect those assets but also minimize
you know inheritance taxes from
generation to generation as as time goes
on
you know also an important part of
estate planning for many people is asset
protection planning and so nevada has
very good asset protection laws probably
it’s considered the best
one or two jurisdictions in the country
for estate planning on its own right and
so we have laws that are very favorable
for
asset protection meaning clients can
move here or cities assets here
and they can protect those assets
through certain types of trusts that are
specific to nevada so that if they’re
ever sued if they’re a professional they
make a mistake or there’s a malpractice
suit or if they just injure somebody and
somebody tries to civilly come after
them as long as they’ve done the
planning the right way and follow the
laws and they have a good attorney
helping them get it done right you know
nevada’s laws have protected those
assets from those creditor claims as
long as you know they’ve taken the steps
to make sure it’s in good working order
so i would say just from a more
of a tax perspective for both estate
planning and other types of taxes nevada
is a great jurisdiction as well because
we have no state income taxes and we
have no state inheritance taxes where
some other states do have those taxes
and so when clients retire or looking to
relocate
an important part of that decision is
you know how can i save taxes and nevada
is a very good jurisdiction to try and
minimize those taxes or reduce them all
together when somebody moves