Living Trust

Establishing an irrevocable trust can be a smart move for business owners looking to safeguard their assets and ensure their proper distribution in the future. Unlike a revocable trust, which allows modifications by the grantor, an irrevocable trust cannot be altered once assets are placed within it. Only the beneficiary has the power to make changes or terminate the trust, offering a level of security for your assets.

Assets that can be included in an irrevocable trust range from your business itself to investments, cash and even life insurance policies. Many business owners opt for this type of trust due to its significant estate and tax advantages. By removing the specified assets from the grantor’s taxable estate, an irrevocable trust effectively eliminates tax liabilities associated with asset income.

However, it is essential to note that grantors may not enjoy these benefits if they also serve as the trustees of their trusts, as tax rules can vary depending on jurisdiction. To explore whether establishing an irrevocable trust in Nevada is a suitable option for your business and family, we encourage you to reach out to Corporate Capital at 855-371-0070. Our team of experienced professionals is ready to assist you in securing the future wellbeing of your business and assets.