Asset Protection By State 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. This 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

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. This means 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. They deal with equity rather than law and as such are 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. 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.