Nevada has enacted an Asset Protection law, called the "Spendthrift Trust Act of Nevada," which protects your assets from creditors. The Hagendorf Law Firm has protected millions of dollars in assets of numerous Nevada clients as well as out-of-state clients under this law.

The law allows any individual to create a valid trust whereby he or she is the Trustee (i.e. in control of the assets), he or she is the Beneficiary (i.e. can use the assets) and the assets are protected from creditors while in trust.

You need not be a Nevada resident to take advantage of the Nevada Spendthrift Trust Act.

Any type of asset (real property, personal property, cash, stocks, bonds, jewelry, family heirlooms, etc.) in any location can be protected by the Nevada Spendthrift Act

The Nevada Spendthrift Trust Act provides absolute protection from creditors. Specifically, the Trust by law prohibits the assignment, alienation, acceleration and anticipation of any interest of the beneficiary under the trust by the voluntary or involuntary act of the beneficiary, or by operation of law or any process. Payments and distributions by the trustee are made only to the beneficiary who can be the person establishing the trust. The trustee of a spendthrift trust is required to disregard and defeat every assignment or other act, voluntary or involuntary, that is attempted contrary to the provisions of the Nevada Spendthrift Act.

Benefits of the Nevada Spendthrift Trust

1. You keep control of your assets
2. You benefit and use your own assets, i.e. need not divest oneself of assets
3. You can protect any amount of assets from creditors
4. You can protect any type of asset from creditors
5. It can be used by individuals who are not Nevada residents
6. Asset are kept within the United States and not subject to overseas risks and
   tax and reporting problems
7. Less expensive and complicated than foreign/offshore asset protection
   trusts which are prone to IRS audits and investigations
8. Less expensive and more protective than malpractice or other insurance
9. Peace of mind from litigation/creditor harassment
10. Avoidance of Bankruptcy
11. Protects future Generation's assets
12. Protects assets with sentimental value
13. Keeps assets "in the family"
14. Can be integrated with your estate plan