Post by miamianne67 on Jul 19, 2018 21:36:31 GMT
I put this here because I think it says as much about Phillip Frost savvy investor and his intentions as it does about OPK. After looking around for a while, I think this is a good basic article ---
Note: Florida has no state income tax.
Trustee Services
Nevada Advantage
Team
Resources
Fee Schedule
Marketing
Professional Brochure
Individual / Family Brochure
Contact
Access My Account Schedule A Call
The Nevada Advantage
We are based in Nevada allowing our clients across the country to formulate and execute their estate plans to take advantage of Nevada’s progressive trust, corporate, and tax laws; we call this the “Nevada Advantage.” You can reside anywhere in the United States and still benefit from a trustee relationship with Premier Trust.
Nevada is consistently ranked as the top trust jurisdiction in the United States for many reasons:
Nevada does not have a state of fiduciary income tax. Irrevocable trusts are taxed at the state level on where the trustee resides. If a client has a Nevada trustee, the trust may avoid filing a state income tax return. This helps reduce the erosion of trust assets by the tax rate. The trust will always have to file a federal income tax return. If a beneficiary of a Nevada trust receives a trust distribution, that distribution will be subject to their own state’s personal income tax filings.
Nevada dynasty trusts allow a trust to continue for 365 years. The length of time a trust can last is commonly referred to as a states “Rule Against Perpetuities.” Dynasty provisions allow a trust to avoid the estate tax arena for multiple generations.
Self-Settled Spendthrift Trusts (often referred to as Nevada Asset Protection Trusts) – One can create an irrevocable trust in Nevada for their own benefit. Two years after the assets are transferred to the trust the assets should be creditor protected. Only 16 states allow these types of trusts and Nevada’s laws are consistently ranked number 1 for the reasons below:
– Provides for No Exception Creditors
– Protects assets for creditors including divorcing spouses
– Has a Two Year Statute of Limitations, the shortest in the nation
– Directed Trusts – Allowing the division of trust duties among a family trustee, independent trustee, and administrative trustee.
– Decanting Statute – Through recent legislation in Nevada you can now change the terms of an irrevocable trust.
– LLC’s and Partnerships with “Charging Order Protection” – Offers a high level of entity asset protection
Note: Florida has no state income tax.
Trustee Services
Nevada Advantage
Team
Resources
Fee Schedule
Marketing
Professional Brochure
Individual / Family Brochure
Contact
Access My Account Schedule A Call
The Nevada Advantage
We are based in Nevada allowing our clients across the country to formulate and execute their estate plans to take advantage of Nevada’s progressive trust, corporate, and tax laws; we call this the “Nevada Advantage.” You can reside anywhere in the United States and still benefit from a trustee relationship with Premier Trust.
Nevada is consistently ranked as the top trust jurisdiction in the United States for many reasons:
Nevada does not have a state of fiduciary income tax. Irrevocable trusts are taxed at the state level on where the trustee resides. If a client has a Nevada trustee, the trust may avoid filing a state income tax return. This helps reduce the erosion of trust assets by the tax rate. The trust will always have to file a federal income tax return. If a beneficiary of a Nevada trust receives a trust distribution, that distribution will be subject to their own state’s personal income tax filings.
Nevada dynasty trusts allow a trust to continue for 365 years. The length of time a trust can last is commonly referred to as a states “Rule Against Perpetuities.” Dynasty provisions allow a trust to avoid the estate tax arena for multiple generations.
Self-Settled Spendthrift Trusts (often referred to as Nevada Asset Protection Trusts) – One can create an irrevocable trust in Nevada for their own benefit. Two years after the assets are transferred to the trust the assets should be creditor protected. Only 16 states allow these types of trusts and Nevada’s laws are consistently ranked number 1 for the reasons below:
– Provides for No Exception Creditors
– Protects assets for creditors including divorcing spouses
– Has a Two Year Statute of Limitations, the shortest in the nation
– Directed Trusts – Allowing the division of trust duties among a family trustee, independent trustee, and administrative trustee.
– Decanting Statute – Through recent legislation in Nevada you can now change the terms of an irrevocable trust.
– LLC’s and Partnerships with “Charging Order Protection” – Offers a high level of entity asset protection