Nevada combines no state income tax on trust income, trusts that can last up to 365 years, strong protection from creditors, and flexible tools to update a trust over time. Those tools include directed trusts, trust protectors and decanting. Together they make Nevada one of the most popular states for long-term family trusts.

No. A non-resident can use Nevada law when the trust names Nevada law and is administered in Nevada, usually with a Nevada trust company as trustee. For a Nevada asset protection trust where you are also a beneficiary, at least one trustee must be a Nevada resident, a qualified trust company or a qualified bank.

No. Nevada has no state income tax on individuals, so a Nevada trust pays no Nevada fiduciary income tax. Federal income tax still applies, and another state may still tax the trust in some cases, for example when a trustee lives there or the income comes from there.

Up to 365 years. Nevada law lets trust interests vest within 365 years, and the Nevada Supreme Court upheld that rule in 2015. This allows a dynasty trust to support many generations, and assets covered by the federal generation-skipping transfer tax exemption can stay outside estate tax at each generation.

It is an irrevocable trust that you can also benefit from, designed to protect assets from future creditors. A creditor generally has 2 years after a transfer to challenge it. A creditor whose claim already existed has the later of 2 years or 6 months after they discovered, or should have discovered, the transfer. The trust cannot be set up to hinder, delay or defraud known creditors, and federal bankruptcy law can reach some transfers made within 10 years.

Often, yes. Nevada's decanting law lets a trustee move assets from an existing trust into a new trust with updated terms, without court approval, for any trust governed by Nevada law. A trust protector can also be given power to modify terms or change where the trust is administered.

A directed trust splits the trustee's job among specialists. An investment advisor directs the investments, a distribution advisor decides distributions, and the trustee handles administration and records. This lets a family keep working with their own financial advisor on investments while a trust company serves as trustee.

A trust protector is an independent person or firm named in the trust with specific powers. These powers can include removing and replacing the trustee, updating the trust's terms, or moving the trust to another state. It gives a long-term trust a way to adapt as laws and family needs change.

Largely, yes. Assets in a funded trust pass without probate, so the trust's terms stay out of the public court record that a probated will creates. Nevada also allows a “silent trust,” which can limit what beneficiaries are told for a period, with a designated representative acting for them.

Often, yes. Depending on the trust's terms and the law of its current state, a trust can be moved by changing its place of administration, through a trust protector, by decanting, or with a nonjudicial settlement agreement. A qualified attorney should review the trust first.