First American Trust Expands into Nevada, Broadening the Reach of its Services and Offering Enhanced Asset Protection

First American Trust, a wholly-owned subsidiary of First American Financial Corporation (NYSE: FAF), has expanded into Nevada by opening a new location in Las Vegas, broadening the reach of its full-service investment management, wealth planning and trust solutions.

First American Trust has been serving high net-worth individuals, families, foundations and businesses in Southern California for more than 50 years. The expansion to Nevada, a state that offers unique estate planning opportunities that do not exist in many other states, marks the first full-service office outside of California.

“Nevada has progressive trust laws that allow people to protect the legacy that they’ve often spent decades building,” said Neil Schoenblum, senior vice president of First American Trust’s Las Vegas office. “For those interested in the opportunities these laws present, who also want to partner with a respected company with a long history of fiduciary excellence, First American Trust’s office in Nevada is a clear fit.”

While many states limit trusts to a duration of 90 years, Nevada laws provide that trusts can last up to 365 years. These dynastic trusts, along with Nevada’s asset protection laws, safeguard assets from creditors, lawsuits, former spouses and estate taxes, and preserve the beneficiaries’ assets for many generations. Families are also able to exercise greater control over investments and introduce a more sophisticated structure for making distribution decisions through Nevada’s directed trust laws.

Additionally, a trust created and administered in Nevada can be designed as a Nevada Incomplete Non-Grantor trust or NING. This type of trust, which has been approved in several recent IRS private letter rulings, allows investment income – that would otherwise have been taxed at the state level – to avoid all state income taxation.

“For both existing First American Trust clients and clients who are new to the company, Nevada’s trust and tax laws can have a dramatic impact in terms of preserving and growing family wealth over the lifetime of a trust, which may last for many generations,” Schoenblum said. “First American Trust has provided comprehensive trust services and administration for more than half a century, and our expansion into Nevada is just one more way the company will continue to offer its trust, investment management and financial planning services in a conservative and highly reputable manner.”

About First American Trust

First American Trust is a wholly-owned subsidiary of First American Financial Corporation (NYSE: FAF). For more than 50 years, First American Trust has provided comprehensive financial planning, investment management and trust services on a local, full-service basis. First American Trust is based in Southern California and has more than $3 billion under administration. For more information, visit www.firstamtrust.com.

About First American

First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; and banking, trust and investment advisory services. With revenues of $5.0 billion in 2013, the company offers its products and services directly and through its agents throughout the United States and abroad. More information about the company can be found at www.firstam.com.

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