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Asset Protection by State
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Trusts
- Nevada, Delaware, Alaska or Rode Island ?
Only four States allow one to set up a trust
and be a protected beneficiary as well. Colorado
and Missouri have similar laws but the general
belief is that those statues do not work. Of
the four States Nevada has the shortest statue
of limitations period that is the time difference
between the date the asset is transferred to
the trust and the date the asset is protected.
In Nevada the time period is two years or six
months after the creditor finds out or should
of known whichever is longer. In the other states
the comparable time period is 4 years
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Corporations - Asset Protection by State - Nevada,
Delaware, Wyoming
Asset Protection by State of Nevada Nevada
is rather unique in that it does not freely report
to any agency including the IRS and the United States
Government. Nobody knows who owns a Nevada Corporation
as the the shares of the corporation can be treated
as bearer stocks meaning that whoever is in possession
of it owns it. There is no requirement that Owners
and Directors be identified and officers can be one
person or a person you appoint. A Nevada Corporation
also does not need to be capitalized - you can have
a Nevada Corporation with no assets.
Asset Protection by State of Delaware is unique
in that it has one of the few remaining Courts of
Chancery in the United States which deals with equity
rather than law and as such is known to give corporations
a lot of discretion in running their own affairs.
For this reason Delaware is widely considered to have
a business friendly legal system resulting in many
public and private companies incorporating in Delaware.
Asset Protection by State Delaware is no different
than any onther state in that no State taxes income
earned outside of State although Delawares franchise
tax inside the State is higher than most others.
Asset Protection by State of Wyoming Wyoming
may be worth looking at for a smaller corporation
and it has less stringent reporting procedures and
while it does report to the IRS that is only if real
assets are within the State. There are no State taxes
no business licence requirement and few privacy requirements.
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