AIR-TIGHT TRUSTS AND ESTATE PLANNING
Secure Your Legacy
Secure your legacy and protect your assets with comprehensive estate planning, ensuring your wealth is preserved for future generations. At The Second Estate, we use the same strategies employed by the ultra-wealthy to protect and transfer assets efficiently.
Our estate planning services go far beyond a simple will. We create layered, air-tight structures that protect your assets from creditors, minimize estate taxes, and ensure your wishes are carried out exactly as you intend.
Asset Protection Trusts
Domestic and offshore trusts that protect your assets from creditors while you retain the benefits.
Wills & Living Trusts
Comprehensive estate documents that ensure your wishes are carried out and your heirs are protected.
Family Limited Partnerships
Transfer wealth to family members while maintaining control and reducing estate tax exposure.
Irrevocable Life Insurance Trusts
Remove life insurance proceeds from your taxable estate while providing liquidity for heirs.
Asset Protection Trusts
One of the most powerful and best trusts is the asset protection trust. The asset protection trust, unique to all others, is made to benefit the trust's creator (called a self-settled trust). Basically, an asset protection trust allows someone to cede legal ownership of assets while continuing to gain the benefits from them. This protects them from creditors who can only reach the debtor's assets.
Domestic asset protection trusts are self-settled trusts that are only allowed in a few states (including Nevada). To benefit from the advantages of domestic asset protection trusts, the trust must typically:
- Be irreversible — once you put your money in, the asset distribution terms you set in the trust cannot be amended, except in a few exceptions.
- Include a spendthrift clause — a provision that precludes a beneficiary from surrendering his or her rights to a trust's assets, protecting the assets from creditors.
- A Nevada resident, bank, or trust corporation must be one of the trustees. The trustee cannot be the settlor or beneficiary.
Why Nevada?
Nevada is widely regarded as the best state in which to set up a domestic asset protection trust. Here's why:
As a result, the domestic asset protection trust is one of the most potent asset protection options available. None of it infiltrates your trust as long as it is set up correctly.