Hello to all,

I got many of my clients and friend asking many questions about  my last article regarding Nevada Domestic Assets Protection Trusts (D.A.P.T.)

One of the most frequent was... Do I need to be a Nevada resident in order to set up a DAPT? The answer is yes and no. Why? According to N.R.S. 166 , at least one of the trustees must be a Nevada resident, so if you are not ....... we have a problem!  Here the solution.... We can legally have two type of trustee

1) You (the non resident) can be the managing trustee, because you want to stay in control of the assets that are bought and sold by the trust.

2) The "blocker" distribution trustee (I will talk about more in a different article) must be a Nevada resident, (it can be a friend or relative) a Nevada trust company or bank. Trust companies and banks can be expensive and charge annual fees. If you don't want to hire a trust company or bank, and you don't know anyone that is a Nevada resident that could serve as the blocker trustee, well .......... Sayonara, Au revoir, Arrivederci and Hasta la Vista..... you are out of luck!

Now, as I stated in my previous article regarding the Assets Protection Trust, I strive to provide the best possible service to my client and friends and, to keep up with my strive, I recently met with a very well known lawyer here in Vegas and learn from him all I am posting.

Please do your own research, Google Nevada or Las Vegas assets protection attorneys or any other search words you feel comfortable and consult with one of the attorneys or expert you Googled.

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