Unlocking Long-Term Security: A Guide to Irrevocable Trusts in Nevada Estate Planning Estate planning is more than just drafting a will; it's about building a fortress around your legacy. In Nevada, where unique tax advantages and progressive trust laws offer distinct opportunities, the irrevocable trust stands out as a powerful, albeit often misunderstood, tool. If you're looking to protect assets, minimize taxes, ensure specific beneficiaries are cared for, or navigate the complexities of long-term care, understanding the nuances of an irrevocable trust is essential. What is an Irrevocable Trust? At its core, an irrevocable trust is a legal arrangement where you, as the "grantor" or "settlor," transfer assets out of your personal name and into the trust. Once transferred, these assets are no longer considered yours. This is the defining characteristic: "irrevocable" means that, with very few exceptions, you cannot unilaterall...