USA – NEVADA Law and Practice Contributed by: Brian Steadman, Alexander LeVeque, Jeffrey Luszeck and Craig Friedel, Solomon Dwiggins Freer & Steadman
Posthumous Children “A posthumous child is deemed living at the death of his or her parent” for purposes of rights of representa - tion (NRS 132.290). It is not yet clear under Nevada law whether this applies only to a posthumously born child, meaning those conceived before but born after a parent’s death, or also a posthumously conceived child, meaning those conceived via assisted repro - “When a child is born after the making of a will by a parent of that child and no provision is made for the child in the will, the child is entitled to the same share in the estate of the testator as if the testator had died intestate” unless it is apparent from the will the par - ent intended otherwise or apparent that the parent intended to provide for the child via means outside the will (NRS 133.160). 9.2 Same-Sex Marriage Same-sex marriage has been legal in Nevada since 9 October, when a federal district court judge issued an injunction against Nevada’s ban, following a ruling by the Ninth Circuit Court of Appeals. This was codified into law effective 1 July 2017 via amendment to NRS 122.020 (“two persons, regardless of gender, who are at least 18 years of age, not nearer of kin than second cousins or cousins of the half blood, and not having a spouse living, may be joined in marriage”.). In 2020, Nevada voters also approved a constitutional amend - ment that specifically recognises marriages between couples regardless of gender, making Nevada the first state to enshrine marriage equality in its state consti - tution. duction after the death of the donor. Children Born After Making of a Will Nevada has also recognised domestic partnerships since 1 October 2009. See NRS Chapter 122A (Nevada Domestic Partnership Act). Nevada law essentially offers domestic partnerships the same state-level rights, responsibilities, obligations, entitlements and benefits of marriage except that there is no require - ment for businesses or governments to provide health benefits to the domestic partners of their employees even if they do so for the spouses of their married employees. Unlike spouses of a marriage, Nevada domestic partners must share a common residence.
Otherwise, the requirements for a domestic partner - ship are similar to the requirements of marriage.
10. Charitable Planning 10.1 Charitable Giving
Pursuant to NRS 163.430, Nevada statutes expressly declare that “the policy of the State is to maximize the funds available for charitable purposes by minimizing, to the greatest extent practicable, the imposition of federal income and excise taxes upon trust assets otherwise available for charitable purposes”. This declaration is relied upon when questions arise as to the testator/settlor’s intent with charitable giving. In other words, should there be any ambiguity in what a testator/settlor wants to accomplish as it relates to charitable goals, this declaration can be used to maximise charitable giving for income tax and estate planning purposes. 10.2 Common Charitable Structures In Nevada, some of the most commonly used vehicles for charitable planning include: Private Foundations Advantages: • complete control over grantmaking, investment decisions, mission, and governance; • immediate tax deduction in the year of contribu - tion, even if grants are made later; • can be structured to exist indefinitely – good for multi-generational giving and long-term missions; and • a way to involve multiple generations in philanthro - py, governance, and strategic thinking. Disadvantages: • cost and administrative burden (must file Form 990-PF annually with detailed disclosures; signifi - cant recordkeeping, compliance, legal and financial oversight; high startup and ongoing administrative costs); • must distribute at least 5% of assets annually;
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