Corporate Trustee Services

French Lawyer

Under Nevada Law

There are a number of advantages to having a professional corporate trustee serve as the successor trustee of your clients’ trusts. That can be even a greater factor when the corporate trustee is directed (by the trust) to administer the trust under Nevada’s favorable trust laws. The benefits of using a Nevada situs for trusts in conjunction with corporate trustee services extend to you the advisor as well as to your clients.

 

Under Nevada Revised Statutes(N.R.S.) 164.045 (“Choice of Law”) the State of Nevada recognizes trusts created by non-residents, as well as Nevada citizens, as being valid and enforceable under Nevada law WHENEVER the governing document identifies Nevada as the trust’s situs/jurisdiction even if the appointed successor trustee is not physically located in Nevada.

Under Nevada law, a corporate trustee can be appointed as a “directed-administrative trustee” where the client, or the client’s investment advisor, directs the investment activities of the trust assets. Corporate trustees will additionally accept appointment not only as an original trustee but also either as a “primary successor” trustee or an “alternate successor” trustee determined by the client’s choice. Corporate trustees can also serve as a “co-trustee” with a family-member successor trustee.

An independent corporate trustee administering a trust under Nevada law can provide client benefits for immediate and/or future use including but not limited to:

  • experience & compliance in working with applicable legal requirements;

  • reliability & availability that can avoid costly interruptions;

  • objectivity & impartiality in carrying out a client’s intentions;

  • custodial services for IRAs to administer “see-through” conduit trusts;

  • formal record keeping for proper tax and trust accounting procedures;

  • administrative capabilities for long-term administrative goals; and

  • permanency of longevity that will exist past the lifetime of an otherwise family-member trustee to administer multi-generational plans.

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Judge Gavel

Nevada Revised  Pro-Trust Laws

The State of Nevada’s expansive, PRO-TRUST body of law is significant for trust creators for many reasons as there are several/notable estate-planning benefits available to the families of residents and non-residents alike:

  • No State Income Tax

  • Nevada Recognizes Independent Investment Advisors

  • Nevada Recognizes Trust Protectors

  • Nevada Recognizes Practical Administrative Procedures

  • Legislative Adoption of Domestic Asset Protection Trusts Law

  • Long Life Multi-generational Trusts

  • User-Friendly Investment Standards