In Case You Missed It…The Trust Advisor Is Hosting a Second Webinar on Asset Protection Trusts

A little over a week ago, Provident Trust Group presented at a webinar hosted by The Trust Advisor, entitled “Strategies for Sheltering Wealth Using Asset Protection Trusts.”  Due to popular demand, The Trust Advisor will be hosting this same webinar, again, on Thursday, June 28, 2012, from 2:00pm – 3:00pm ET.  Provident is very pleased … More In Case You Missed It…The Trust Advisor Is Hosting a Second Webinar on Asset Protection Trusts

Virginia Enters the Asset Protection Arena

On April 4, 2012, Governor McDonnell signed into law Senate Bill 11, which added sections 55-545.03:2 and 55-545.03:3 to the Code of Virginia, thereby allowing self-settled spendthrift trusts to be established in Virginia.  Effective July 1, 2012, Virginia joins the ranks of other domestic asset protection trust states, including Nevada, South Dakota, Alaska, Delaware, Hawaii, … More Virginia Enters the Asset Protection Arena

Nevada Revises Its Charging Order Statutes for Corporations

As previously discussed, with the passage of Senate Bill 405, Nevada became just one of two states (the other being Wyoming) to extend charging order protection to single member limited liability companies (SMLLCs).  Following on the heels of decisions such as Olmstead and Albright that created doubt about the asset protection efficacy of SMLLCs, Senate … More Nevada Revises Its Charging Order Statutes for Corporations

October 1: SB 405 and SB 221 Go Into Effect, Asset Protection Enhanced

In July of 2007, Nevada became the first jurisdiction to extend charging order protection to corporate stock.  Now, nearly four-and-a-half years later, Nevada has once again expanded its charging order laws—this time, to single member limited liability companies (SMLLCs). Section 69 of SB 405, amending NRS 86.401, specifies that the charging order is the “exclusive … More October 1: SB 405 and SB 221 Go Into Effect, Asset Protection Enhanced

A Timeline of Nevada’s Significant Asset Protection and Trust Laws

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

Nevada Dynasty Trusts

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