As new generations build wealth, more are turning to Nevada Trust Company to protect and grow their assets

Joe Mazon is seeing it more and more often these days. As president and treasurer of Nevada Trust Company, Mazon has witnessed firsthand an explosion of wealth among younger people. These Gen Zers and Millennials are making money quickly through startups, content creation, tech ventures, and other digital investments. Others are inheriting it. And the overnight influx of cash has left many of them facing the same question: How can I make this last?

“We talk about it all the time,” says Mazon. “They’re so young, seeing so much sudden wealth, and they don’t know what to do with it. They want to know how not to screw this up.”

Indeed, according to the New York Federal Reserve, the total wealth of Americans under age 40 exploded by 80% between 2019 and the third quarter of 2023.[1] At the same time, the country is experiencing the Great Wealth Transfer, as aging Baby Boomers pass their considerable assets ($84 trillion[2] or more) on to their Gen X and Millennial heirs. News headlines are littered with many, including celebrities and star athletes, that squander their early fortunes through reckless spending and shaky investments. Too few younger people seem to know about the advantages of establishing a trust.

That’s where Mazon and Nevada Trust Company come in.

For more than three decades, Nevada Trust Company has been providing market-leading trust and investment management services to its clients all over the globe. But since the retirement of the company’s founder in September 2025, Mazon, a former senior vice president with MetLife, has sought to update and augment Nevada Trust Company’s approach. Mazon wants to combine the company’s vast institutional experience with cutting-edge, personalized service that provides sound guidance, integrated solutions and market knowledge in a single source.

“We’re a bespoke solution provider,” says Mazon. “Everyone’s situation is unique. There’s no cookie-cutter answer. We listen to you, consider your situation, and present options. And we’re independent, not beholden to an RIA, brokerage house, or bank pushing their services.”

Mazon is also pushing the company to educate younger generations about ways to grow and protect their financial futures. And one of the best options for safeguarding wealth, especially in Nevada, is the little-known and oft-misunderstood institution of the trust.

In Nevada we trust

A Nevada Asset Protection Trust, or NAPT, is designed to own assets, regardless of the trustee’s physical location, providing safety and protection against outside forces, especially claimants and creditors. The NAPT does this better than most other tools in other jurisdictions due to the favorable laws of the State of Nevada. These benefits include:

• Control: Ability of the creator to maintain complete control of the trust investments. You make the rules; Nevada Trust Company administers them.
• Privacy: Unlike other states, Nevada law does not allow an outside party to find out who owns a specific trust. Neither the public nor any outside party has the right to dig through documents and learn about the owner of a Nevada trust.
• Fewer taxes: No state income tax or inheritance tax, equaling more wealth for you.
• Protection: In other states, exception creditors (like a divorced spouse or a spendthrift child) have pierced trusts through the courts. Some have tried in Nevada, but no state court has ever allowed it.
• Longevity: In Nevada, a trust can last up to 365 years, long outliving generations of benefactors and bypassing related transfer taxes.
• Shorter seasoning period: This is the time between starting the trust and the date those assets are protected. In Nevada, this period is just two years — shorter than that in any other U.S. state.

“A trust is not about quarterly performance,” says Mazon. “We’re working toward a legacy through time. With trusts, you can ignore the immediate noise and look from now to 10 years down the road and beyond.”

A relationship built on responsibility and trust

Through trusts and long-term financial wellbeing, Nevada Trust Company understands that the relationship with clients is not simply transactional — it’s built on fiduciary responsibility.

“I look at it as stewardship,” says Mazon. “It’s my duty to communicate our strength and discipline to help clients get where they need to go. We’ve been doing this for 31 years — we’ve seen a lot of things.”

One thing that hasn’t changed in that time is the company’s commitment to personalized customer service. It starts with a free consultation with a member of a team with more than a century of combined experience. With that institutional knowledge, they’ll sit down with you and discuss your goals, family situation, and financial objectives. Together, you’ll develop a long-range plan customized to your unique needs, risk tolerance, and circumstances.

Because Nevada Trust Company is independent, it is not affiliated with specific banks, products, services, CPAs, or lawyers — they are happy to work with the people and institutions you already trust. And if you do need a new attorney or accountant, the company has an extensive contact list of professionals from which they can help you choose the best representation for your specific needs.

Most importantly, once a plan is formulated and implemented, Nevada Trust Company will be with you on the entire journey into the future. You’ll receive regular reporting and proactive management of your assets with quarterly reviews and adjustments as needed. Plus, there’s an annual in-person meeting with Nevada Trust Company where you can discuss goals and review the course for the future.

“My experience with the team at Nevada Trust Company has been exemplary, and for over 20 years, they have been like family to me,” says client Peter Seagrave. “The communication I get from them is absolutely fabulous. They are very transparent. I not only have real-time reporting online — I can look at my account at any time and see what is going on now and look back over 20 years and see where we’ve been. They’ve always been a wonderful business partner. They’ve given me great peace of mind.”

In addition to personalized updates, clients also have access to a steady stream of educational materials, such as blogs, stories, and podcasts from Nevada Trust Company, to keep them up to date on the outer workings and goings-on in the industry. And unlike many other trust companies that are raising prices and adding fees, Nevada Trust Company hasn’t raised its prices since 2006. All phone calls and emails are free.

For Mazon and his team at Nevada Trust Company, it’s all about relationships and long-term stewardship of assets for your benefit — and that of loved ones, descendants, charitable causes, and community.

“We enjoy sitting across the table and talking to our clients about their hopes, dreams, and ambitions,” says Mazon. “When we hear clients talk about us like family, that’s where our satisfaction comes from.”

For more information or to schedule a free consultation, visit Nevada Trust Company’s website.

[1] https://www.cnbc.com/2024/02/15/younger-generations-gained-more-wealth-than-others-since-2019-study-says.html?utm_source=chatgpt.com

[2] https://fortune.com/2025/03/28/millennials-richest-generation-on-record-great-wealth-transfer-from-baby-boomers/