Family Private Trust Company Counselors

We reviewed all of the domestic and foreign jurisdictions.   Our favorites is Nevada and next is New Zealand.  Last place is the Cook Islands.   Multi-national families cross border inheritance planning is best served by a family trust.

Americans want a trust to be a grantor trust.  The IRS ruling 85-13 makes a grantor trust the best estate planning trust.   Foreign trusts created by an American is usually a grantor trust.

Both Nevada and New Zealand allow a trust to be classified (by the IRS) as a foreign trust. Yes, a trust with only a US trustee can be an offshore foreign trust.  Both can defer United States income tax and avoid State income tax (especially important for California residents).

Nevada is an asset protection state (after a two year waiting period).  To avoid estate taxes under section 2038, a self settled trust must be located in an asset protection jurisdiction. 

Which State?  Nevada or Wyoming?

Nevada allow any Nevada company to act as private family trustee (as long as the company does not solicit trust business). Annual fees are substantially less than South Dakota or Delaware. 

Wyoming has no laws regarding a trust company.  Any company private family trust company.  Asset protection is better since the settlor of a self settled trust only needs to be solvent.  Fees for Wyoming are similar to Nevada.

We prefer Nevada because Las Vegas is so much easier to travel to than Wyoming.  The directors of the family private trust company must meet once a year at the company's office (usually the office of the company's attorney),   Annual cost, including the income tax return) for either state is less than $5,000 per year.

Nevada has become a popular location for Latin Americans and Hong Kong families.

Here is a link to our blog.which is updated each weekday.

Still have questions?

Please contact us anytime! We look forward to hearing from you.