Nevada Dynasty Trusts

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Nevada is a leader in the few states that offer what is often called a Dynasty Trust. 

Nevada has mostly abolished the old English Rule Against Perpetuities, which states "future interests must vest, if at all, within 21 years after the death of a life in being at the time that the interest is created".

What does that mean? Funny you ask. It's a joke that is learned in law school, that pretty much even the law professors that teach it, don't really understand it. Ask any lawyer. So why keep it? Maybe, tradition? Who knows? Anyway it's mostly abolished in Nevada which is good news for you, whether you are a Nevada resident or not, because pretty much anyone can create a Nevada Dynasty Trust.