Las Vegas Lawyer: Crafting Trusts and Putting Control in Your Hands
A living trust is the foundation of a sound estate plan. Different types of trusts help you avoid probate, minimize taxes, and manage property with full control over the long term. This is step one in estate planning. Most people think of wills, but your living trust is critically important to avoiding probate and saving estate assets from legal and court fees. Not every lawyer will tell you that.
A trust is a legal arrangement under which one person or institution (called a trustee) controls property given by another person (called a trustmaker) for the benefit of a third person (called a beneficiary).
Crafting the Best Trusts for Your Estate Plan
At the Law Offices of David A. Straus in Las Vegas, our attorney drafts every one of our clients’ trusts himself. Each trust is prepared and finalized like a piece of artwork. We build trusts that are specifically designed for you — no boilerplate legalese about it. Every trust that we prepare has special needs trust provisions built into it.
If retained to do so, we will take a deep look into all of your documents for every asset and company you own. As part of that, we examine tax returns, organizational and operational entity documents, and trusts that you may already have. We listen as you share with us your hopes, fears, dreams, aspirations, values, and planning goals. All are important in building and customizing your estate plan.
We protect your assets one piece at a time. We focus on each level of planning individually, beginning with you, followed by family, wealth protection, wealth expansion, probate avoidance, and tax planning.
Maximizing Your Wealth and Protecting Assets in Nevada
Nevada has one of the best self-settled spendthrift trust, onshore trust statutes in the United States. You do not have to be a resident of Nevada to form a Nevada Asset Preservation Trust, but at least one trustee (individual, trust company, or bank) must reside in Nevada.
To your benefit, the settlor of the onshore trust can serve as a trustee, manage property, and direct investments in the trust while also remaining a discretionary beneficiary of the trust, which is a significant economic protection should your circumstances take a turn for the worse. Among other benefits, the onshore trust provides exceptional protection against creditors, and is not subject to state income taxes in Nevada.
Other revocable and irrevocable trusts we may discuss with you include:
- Special needs trusts
- Charitable trusts
- Gun trusts
- Dynasty trusts
- Gifting trusts
- Revocable living trusts
- Generation-skipping trusts
- Irrevocable life insurance trusts
- Irrevocable grantor trusts
- Qualified personal residence trusts
- Grantor-retained annuity trusts
- Intentionally defective irrevocable trusts
We do not create bare-bone legal documents or cookie-cutter solutions. We can draft protective provisions into trusts, including for spousal protection, business protection, bankruptcy and lawsuit protection, intellectual property rights protection, and prevention of frivolous spending by beneficiaries.