The Trust Advisor Blog published its 2010 rankings of the best states for trusts. The states are separated into three tiers with Tier 1 being the best, Tier 2 being good and Tier 3 being marginal. Nevada is one of only four states included in Tier 1 as a best state to set up a trust.
In giving Nevada such a high ranking, the Trust Advisor Blog relied on several of the state’s advantages, including: its directed trust and asset protection trust statutes; its 365-year dynasty trust law; and no state income tax. The blog post also quotes Steven J. Oshins, an estate planning attorney as well as the author of several Nevada trust laws, who comments: “Nevada now offers everything Delaware offers and more because of the combination of its 365-year dynasty trust law, two-year statute of limitations on self settled asset protection trusts and no taxation.”