What are the differences between Alaska and Nevada?
Both Alaska and Nevada have similar statutes, both being top trust jurisdictions. The choice of one over the other comes down to what a grantor is trying to accomplish with the trust and the preferences of the client and the attorney.
What is required for a trust to qualify as an “Alaska Trust”?
Alaska statutes (AS 13.36.035) require an Alaska trust to:
- Have at least one trustee residing or located in Alaska
- Have the trust records physically held in Alaska
- Have portion of the trust administration performed in Alaska
- Have a portion of the trust assets physically held in Alaska
- Be registered with the Alaska courts
What is required for a trust to qualify as a “Nevada Trust”?
Nevada statutes (NRS 166.015) require a Nevada trust to:
- Have at least one trustee residing or located in Nevada