NV Asset Protection Trusts for Non-Nevada Residents

Not a Nevada resident but want to know more about Nevada asset protection, visit my website at http://www.attorney-lasvegas.com/neva... . This video briefly explains a couple of issues that you need to be aware of if you don't reside in Nevada. I’m a Nevada attorney with over 24 years of experience focusing on trusts and estates, including asset protection planning. Without a doubt, a Nevada Asset Protection Trust works best if you call Nevada your home, the assets held by the trust are located in Nevada, and all of the trustees are in Nevada. Because Nevada is one of the best states in which to set up a domestic asset protection trust, the NAPT has been heavily marketed to non-Nevada residents. But what issues should you be aware of? First, as a general rule, don't hold real estate in an NAPT that is located in another state because the laws of the state where the real estate is located govern that real estate. If a creditor obtains a judgment against you in another state, and that state does not recognize domestic asset protection trusts, the court could decide to disregard the trust and allow the creditor access to the property anyway. As a non-Nevada resident, if you are going to set up an NAPT, it would be advisable to do so in conjunction with a Nevada limited liability company with assets that can be held in Nevada, such as a securities account. The assets are held by the LLC, which in turn is owned directly by the NAPT. The trust must also have a Nevada trustee. As mentioned, the NAPT has likely been marketed too aggressively in those states that do not recognize self-settled spendthrift trusts. So while they can help, close attention to detail is a must. This is definitely not a do-it-yourself project. To learn more about protecting your assets, visit my website at http://www.attorney-lasvegas.com. You’ll find a lot more information there about limited liability companies, asset protection trusts, and estate planning generally. And if you do not live in Nevada, but are interest in a Nevada Asset Protection Trust, give us a call. I’d be glad to speak with you to discuss how best protect your assets. Connect with us on:   / nevadaprobateandestateattorney     / jrl_esq   https://plus.google.com/u/0/104145042... #NevadaAssetProtectionTrust #NAPT #NevadaLLC    • NV Asset Protection Trusts for Non-Nevada ...      / @jayr.larsenesq.7830