Protect Your Assets
Asset protection trusts are a proactive legal action that protects assets from lawsuits, judgements, creditors, and divorce. An asset protection trust can also deter a lawsuit before it even begins, as well as help you have a favorable outcome in the event of litigation.
Perhaps you’ve heard of a trust, or even an asset protection trust, but you aren’t sure if that’s something that would benefit you or your dependents. We’ve traditionally only heard about trusts in the movies and think of them as only for the ultrawealthy. But asset protection is one of the most important things you can do for your family’s financial planning, and a trust is no longer just for the rich.
What is an asset protection trust?
Put simply, a trust is a legally formed (like ‘incorporated’) entity that holds your protected assets. In short, as a unique legal entity it is not “you”, even while you might be the sole beneficiary, and therefore can’t be touched by any personal litigation or family squabbles.
What circumstances can an asset protection trust protect you from?
Personal liability litigation
Business liability litigation
What assets can you put into an asset protection trust?
Private Business Interests
Why Prime Trust?
Prime Trust is a technology-driven trust company unlike any other trust company in existence. When you work with Prime Trust, you benefit from our long history of serving many types of clients.
Whether you want to simply protect your nest egg, manage wealth across generations, or you’re a business owner who wants to create and protect their hard-earned money, we can do that.
We will help you:
- Protect your assets
- Preserve your wealth
- Build a legacy
Share your wealth with the next generation
Plan for growth and succession in your private business
Support charitable causes that are important to you
So why open an asset protection trust in Nevada?
A grantor can also be a beneficiary (meaning you can be a beneficiary of your trust, which isn’t allowed in most states)
You can be the “trust protector”
You can have the ability to disburse funds
You (and your advisor) can run the investment committee
When the time comes to make changes to your trust, it’s easy thanks to NV “decanting” statutes
There is no filing requirement to publicly list or disclose grantor or beneficiary names, insuring anonymity
You can easily pair an LLC to your trust to directly manage business and real estate interests and achieve “double asset protection”.
No “minimum” or “special” taxes on trust assets or income
Nevada is the one and only state that does not permit any special classes of creditors, called “exception creditors”, to pierce the asset protection shield
Nevada is now the world leader for trust companies due to its mature and well-formed body of corporate law, the strength of its asset protection regulations, its focus on confidentiality of information, and a zero-state-tax environment.
("The World's favorite new tax haven is the United States" from "Bloomberg.com")