Nationally known estate planning and asset protection attorney Steve Oshins recently published a Dynasty Trust State Rankings Chart at http://www.oshins.com/images/Dynasty_Trust_Rankings.pdf. Like his annual Domestic Asset Protection Trust State Rankings Chart at http://www.oshins.com/images/DAPT_Rankings.pdf, the Dynasty Trust Chart breaks down the material differences among the leading trust jurisdictions so the end-user can make an informed decision when … More 1st Annual Dynasty Trust State Rankings Chart Released
The article was recently published in CCH Estate Planning Review and is entitled “Asset Protection in the Desert: Nevada’s Rules, Recent Developments, and Advantages.”
In 1999, Nevada became one of the first states to enact legislation allowing self-settled spendthrift trusts that provide asset protection for settlors. Since then, the Nevada legislature has consistently passed favorable, progressive asset protection and trust laws (including during the most recent legislative session) as evidenced by the timeline below. October 1999 Effective October 1, … More A Timeline of Nevada’s Significant Asset Protection and Trust Laws
Michael Bonasera of The Ohio Trust & Estate Blog wrote a very kind post yesterday about The Nevada Trust Reporter. Since January 2007, The Ohio Trust & Estate Blog has been a wonderful resource for T&E news and developments not only in Ohio but nationwide. Indeed, the blog was recently selected as a Top 25 … More Welcome Readers of The Ohio Trust & Estate Blog!
What is a Dynasty Trust? A dynasty trust, also often referred to as a perpetual or generation-skipping transfer (“GST”) trust, is a unique type of irrevocable trust that has become a very powerful estate planning tool in preserving family wealth. Dynasty trusts can prevent your assets from being included in your or your descendants’ estates, … More Nevada Dynasty Trusts
In his recent article for the Wall Street Journal’s SmartMoney, Bill Bischoff, the Tax Guy, looks at the worst places to die from an estate tax perspective. Indeed, even with the $5 million federal estate tax exemption for 2011 and 2012 now in place, potentially significant estate tax concerns may remain at the state level. Why … More Nevada: Not One of the Worst Places to Die
Houston Astros owner Drayton McLane has decided to put the team up for sale. After almost eighteen years as owner, McLane mentioned estate planning issues as one of the reasons he is now accepting offers for the sale of the franchise. In 1992, McLane bought the Astros from John McMullen for $117 million. While McLane … More Astros Owner Selling Ballclub…Because of Estate Planning Issues?