Death not the only factor when designing an estate plan
Sunny Nevada attracts retirees with estate planning needs. Too often the legal preparation of final plans gets delayed because people do not want to contemplate the end of their lives. A busy schedule can also create the excuse of not having time to make arrangements....
Why having a will is important
Some Nevadans put off writing wills or believe that they don't need to worry about estate planning. However, there are several reasons why it's important for every adult to have a will. When a person has a will, the probate process may move more quickly because their...
Why should I consider a special needs trust?
A recent study by the Centers for Disease Control and Prevention reported that about one in five adults has some type of incapacitating disability. Some may have profound impediments and others less severe. Many of those 53 million people with disabilities receive...
Estate planning for business owners
Although it is important for business owners to focus on day-to-day operations, it is also necessary for them to make plans in case they are suddenly no longer able to operate. Nevada entrepreneurs may want to know about estate planning tips that they can use to...
Avoiding the probate process
Probate courts in Nevada and around the country have two primary functions with respect to a decedent's estate. If a person dies without a will, the court will apply the state's laws governing intestacy to determine who should receive the estate's assets. When,...
How an incentive trust works
Nevada residents who are creating an estate plan and who have heirs that they feel are irresponsible might worry about leaving them money or other assets that they will waste. An incentive trust may be one way to address these concerns. An incentive trust is a trust...
Creating a comprehensive estate plan in Nevada
When done properly, a good estate plan helps Nevada residents have control of their assets while they are alive and after they die. It will also provide a plan of action in the event that they become mentally incapacitated. However, an estate plan may provide for more...
Why married people should have powers of attorney
Married Nevada residents sometimes think that they do not need to worry about having powers of attorney in place since their spouses can step in to make the important decisions for them if they become incapacitated. However, there are important reasons for them to...
Beneficiary designations can trump bequests
Nevada residents creating an estate plan will typically want to be as thorough as possible in listing their assets and the manner in which they will be distributed after they die. However, a last will and testament may not be the last word in some cases. Probate is a...