Planning for the future of your family and your assets is one of the most meaningful steps you can take, and working with Reno trust attorneys who understand Nevada's unique legal landscape can make all the difference. Whether you are creating your first trust, updating an existing one, or looking to take advantage of Nevada's favorable trust laws, having the right legal guidance helps you protect what matters most.
At Viloria, Oliphant, Oster & Aman L.L.P., our team works closely with individuals and families throughout Northern Nevada to build estate plans that reflect their goals, protect their loved ones, and stand up over time.
Why Choose Viloria, Oliphant, Oster & Aman L.L.P.?
When it comes to something as important as your family's financial future, you deserve attorneys who will take the time to listen to your story and understand your needs. At Viloria, Oliphant, Oster & Aman L.L.P., our approach to trust planning is built around personal attention and honest communication.
- Over a century of combined experience: Our firm has more than 100 years of combined legal experience serving Northern Nevada families, giving us a deep understanding of state trust laws and how they apply to real-life situations.
- Limited caseloads, focused attention: We intentionally limit the number of cases we take so that every client receives the individualized care they deserve—not a one-size-fits-all approach.
- Same-day communication: When you call our office, your call is returned the same day. We accommodate evening and weekend appointments when needed because we know your schedule matters.
- True trial preparation: We prepare every case as though it may go to court. This level of readiness strengthens your legal position from the very beginning.
Choosing the right Reno trust attorneys means choosing a team that puts your family's well-being ahead of everything else—and that is the standard our firm has upheld since day one.
What Is a Trust and How Does It Work?
A trust is a legal arrangement where one person, known as the settlor or grantor, transfers assets to another party, called the trustee, to manage and eventually distribute those assets to designated beneficiaries. Think of it as a set of written instructions for how your property, savings, and investments should be handled, both during your lifetime and after you pass away.
Under Nevada Revised Statutes Chapter 163, a trust can be created by a written declaration, a transfer of property to a trustee, or even through an exercise of a power of appointment. Nevada law gives individuals significant freedom in deciding how their trusts are structured, what terms they include, and how long those trusts remain in effect.
Unlike a will, which only goes into effect after death and typically must go through probate—a public court process where a judge oversees the distribution of your estate—a properly funded trust can allow your family to avoid probate entirely. This means faster access to assets, lower costs, and greater privacy for your loved ones during an already difficult time.
Why Nevada Is One of the Best States for Trusts
If you live in or near Reno, you are already in one of the most trust-friendly states in the country. Nevada's trust laws offer several meaningful advantages that can benefit families at many different income levels.
No State Income Tax on Trust Income
Nevada does not impose a state income tax, and that includes income generated within a trust. For families whose trust assets produce dividends, interest, or rental income, this can translate to real savings over time. While federal income taxes still apply, the absence of state-level taxation is a significant benefit that residents of neighboring states, like California, do not enjoy.
Strong Asset Protection
Nevada is widely recognized for having some of the strongest asset protection trust laws in the nation. Under the Nevada Spendthrift Trust Act (NRS Chapter 166), individuals can create self-settled spendthrift trusts, sometimes called domestic asset protection trusts, that shield assets from future creditor claims.
Nevada's two-year statute of limitations for creditors to challenge asset transfers is among the shortest in the country, and the state has eliminated so-called "exception creditors," providing broader protection than most other jurisdictions.
Dynasty Trust Provisions
Nevada allows trusts to last for up to 365 years. Known as dynasty trusts, these long-term arrangements let families pass wealth through multiple generations while potentially deferring estate taxes along the way. For families in Northern Nevada who have built wealth through business ownership, real estate, or investments, a dynasty trust can be a powerful tool for preserving a lasting legacy.
Privacy Protections
Because properly funded trusts generally avoid probate, the details of your estate, including what you own and who receives it, remain private. This is a meaningful benefit for many families who value discretion.
These advantages make a Reno trust attorney a critical resource for anyone who wants to take full advantage of what Nevada law has to offer.
Common Types of Trusts in Nevada
There is no single trust that works for every family. The right choice depends on your goals, your assets, and your unique circumstances. Here are some of the most common types of trusts that Reno trust attorneys help clients create.
Revocable Living Trusts
A revocable living trust is one of the most popular estate planning tools in Nevada. You create the trust during your lifetime, transfer your assets into it, and maintain full control as both the trustee and the beneficiary while you are alive. You can change or revoke the trust at any time. When you pass away, the trust assets transfer directly to your named beneficiaries without going through probate.
This type of trust is especially helpful for families who own property in multiple counties—such as a home in Washoe County and a vacation property near Lake Tahoe—because it can simplify the transfer process across different jurisdictions.
Irrevocable Trusts
An irrevocable trust, once established, generally cannot be changed or revoked without the consent of the beneficiaries. While this means giving up some control, the trade-off is significant: assets placed in an irrevocable trust are typically removed from your taxable estate and shielded from creditor claims. These trusts are commonly used by individuals with higher-value estates or those in professions with greater liability exposure.
Asset Protection Trusts
As mentioned above, Nevada's asset protection trusts allow grantors to be beneficiaries of their own trusts while still protecting assets from creditors. These trusts require at least one Nevada-resident trustee and must follow specific requirements under state law, but they offer a level of protection that is difficult to match in most other states.
Special Needs Trusts
A special needs trust allows you to provide for a loved one with a disability without jeopardizing their eligibility for government benefits like Medicaid or Supplemental Security Income. This type of trust must be carefully drafted to comply with both federal and state regulations, making experienced legal guidance essential.
Testamentary Trusts
A testamentary trust is created through your will and only takes effect after your death. While this type of trust does go through probate, it can be useful for families who want to set conditions on how their assets are distributed—for example, ensuring that minor children receive their inheritance at a specific age rather than all at once.
Understanding the differences between these trust types is an important first step, and a trust attorney can help you determine which option, or combination of options, best fits your family's situation.
Key Steps in Creating a Trust in Nevada
Setting up a trust may seem complicated, but with the right legal team, the process is straightforward. Here is a general overview of what to expect.
- Identify Your Goals Before any documents are drafted, you will sit down with your attorney to discuss what you want the trust to accomplish. Are you trying to avoid probate? Protect assets from potential creditors? Provide for a child with special needs? Set up long-term wealth transfer for future generations? Your goals will shape every decision that follows.
- Choose the Right Trust Structure Based on your goals, your attorney will recommend one or more trust structures. Many families benefit from a combination, for example, a revocable living trust for day-to-day asset management paired with an irrevocable trust for long-term asset protection.
- Select Your Trustee and Beneficiaries You will name the person or institution responsible for managing the trust, as well as the individuals who will ultimately benefit from it. Choosing a trustworthy, capable trustee is one of the most important decisions in the process.
- Draft and Execute the Trust Documents Your attorney will prepare the trust agreement and any related documents, such as pour-over wills or powers of attorney. Under Nevada law, trust instruments involving real property must be signed and, in certain situations, recorded with the county recorder.
- Fund the Trust A trust only works if it is properly funded. This means transferring ownership of your assets—bank accounts, real estate, investment accounts, and other property—into the trust. An unfunded trust is essentially an empty container and may not provide the protections you intended.
Each of these steps requires careful attention to detail, and working with an experienced trust lawyer helps prevent costly mistakes that could undermine your plans.
When Should You Review or Update Your Trust?
Creating a trust is not a one-time event. Life changes, and your estate plan should change with it. Some common reasons to review or update your trust include:
- Marriage, divorce, or remarriage: Changes in your family structure may affect who you want to name as beneficiaries or trustees.
- Birth or adoption of a child or grandchild: You may want to add new beneficiaries or create provisions for minor children.
- Significant changes in assets: Purchasing a new home, starting a business, or receiving an inheritance may require updates to your trust.
- Changes in Nevada or federal law: Tax laws and trust statutes change periodically, and what was effective five years ago may no longer be the best approach.
- Relocation: If you have recently moved to Northern Nevada from another state, your existing trust may need to be reviewed to make sure it takes full advantage of Nevada's favorable trust laws.
Reviewing your trust every few years, or after any major life event, helps make sure your plan continues to reflect your wishes and protect your family.
How a Reno Trust Attorney Protects Your Family's Future
Trust planning is deeply personal. It touches on your relationships, your values, and your hopes for the people you care about most. The right Reno trust attorneys do more than fill out paperwork—they take the time to understand your family, explain your options in plain language, and build a plan that you can feel confident about for years to come.
At Viloria, Oliphant, Oster & Aman L.L.P., we have spent decades helping families across Washoe County, Carson City, Douglas County, and throughout Northern Nevada create trust plans that are thoughtful, legally sound, and tailored to each client's needs. Whether you are a young family just getting started or a business owner thinking about long-term wealth preservation, we are here to help.
FAQs for Reno Trust Attorneys
Here are some of the questions our team frequently hears from clients who are exploring their trust planning options.
How much does it cost to set up a trust in Nevada?
The cost of creating a trust depends on the complexity of your estate, the type of trust you need, and any additional documents that may be required, such as powers of attorney or healthcare directives. During a free consultation, your attorney can provide a clearer picture of what to expect based on your specific situation.
Do I need a trust if I already have a will?
A will and a trust serve different purposes. A will goes through probate, which can be time-consuming and public. A trust can help your family avoid probate, maintain privacy, and potentially access assets more quickly. Many families benefit from having both a will and a trust as part of a comprehensive estate plan.
Can I be the trustee of my own trust?
Yes. With a revocable living trust, you can serve as both the trustee and the beneficiary during your lifetime. You will also name a successor trustee who steps in to manage the trust if you become incapacitated or pass away.
What happens if I do not fund my trust?
An unfunded trust—one that has been created but does not hold any assets—typically cannot accomplish its intended purpose. Assets that are not transferred into the trust may still need to go through probate. Properly funding your trust is just as important as creating it.
Can I change my trust after it is created?
If you have a revocable living trust, you can amend or revoke it at any time during your lifetime. Irrevocable trusts are more difficult to change, but Nevada law does allow certain modifications under specific circumstances, such as through the decanting process outlined in NRS 163.556.
Do I need a Nevada-based attorney to create a trust in Nevada?
While you are not legally required to use a Nevada attorney, working with a local attorney who understands Nevada's trust statutes, county-specific procedures, and regional legal landscape can help you avoid issues that an out-of-state attorney might miss. This is especially important for trusts involving real property in Northern Nevada.
How long does it take to create a trust?
For a straightforward revocable living trust, the process typically takes a few weeks from the initial consultation to signing the final documents. More complex trusts, such as asset protection trusts or dynasty trusts, may take longer depending on the assets involved and the level of planning required.
Protect What Matters Most—Contact Our Reno Trust Attorneys Today
Your family's future deserves careful planning and dedicated legal support. At Viloria, Oliphant, Oster & Aman L.L.P., we offer free consultations so you can learn about your options without any pressure or obligation. Our Reno trust attorneys are ready to listen to your story, answer your questions, and help you build a plan that protects the people and the assets you care about most. Call our office today to schedule your free consultation and take the first step toward lasting peace of mind.