From political instability to increased international reporting requirements, non-U.S. families from across the world are benefiting from establishing trusts in the United States, particularly in Nevada.
Each state in the United States is a unique trust jurisdiction with varying trust laws. Over the past couple decades, Nevada has made a name as a top U.S. trust jurisdiction for both U.S. and foreign families.
In previous decades, international families would turn to Europe and the Islands looking for enhanced asset protection and privacy. Now global families estate plan in the United States, particularly trust jurisdictions such as Nevada.
International families may benefit from estate planning in the U.S. for many reasons. However, there are a few indications that make establishing a U.S. trust prudent.
Nevada’s trust law is both well-established and well-regarded by industry professionals across the world. Moreover, Nevada’s highest court, the Supreme Court of Nevada, has set precedents supporting Nevada’s trust law and asset protection. Nevada also prioritizes privacy carrying robust privacy provisions, attracting families living in unstable countries, and families that simply want their affairs as private as possible.
Further, Nevada does not tax trusts, and Nevada carries directed trust statutes allowing families to continue using their preferred investment teams. And, because every family wants continuity in their plannings, Nevada’s Dynasty Trust provisions allow planning to span many future generations, up to 365 years.
Crawford Trust specializes in establishing U.S. trusts for international families. Contact us today and we are happy to provide you with more information.