Sentimental value and estate planning
Nevada residents should include personal property in their estate planning documents. After a loved one passes, it is not uncommon for family conflicts to be centered on tangible personal property that belonged to the deceased and holds sentimental value. In order to...
Complex circumstances require careful will planning
Many Nevada residents assume their estate plan will be a straightforward one. While this is often true for individuals with modest assets and an uncomplicated family life, people who have been married more than once, who own a business or who have significant assets...
What actually happens during the probate process?
Issues pertaining to estate planning can be complex, especially if you are unfamiliar with the process and what to expect. The probate process can be relatively confusing, and you may unsure of how you can get the property that was left to you through the estate of a...
Power of attorney and the possibility of coercion
Nevada residents who are creating an estate plan may also need a power of attorney. A power of attorney appoints an agent to manage the person's financial affairs if the person becomes incapacitated. The person creating the power of attorney is known as the principal....
Don’t forget about your digital life when making estate plans
Are you beginning your journey into estate planning? Have you gathered a list of your assets, decided on a distribution plan and talked to your family about your intentions and wishes?Those assets may include your home, family heirlooms and other assets you...
What young people should know about their inheritance
Nevada residents may have trouble talking about money with family members. In some parts of the country, it may not be socially acceptable to do so. However, it may be a good idea to have that conversation with adult children and younger family members. It is...
Careful record keeping and patience benefit executor of will
When a family member passes in Nevada, grief occupies the relatives and friends, but the executor of the will must focus on administrative business as well. A will designates the person who will manage the estate. Known as an executor, this representative must perform...
IRAs and custom beneficiary designations
Nevada residents who are creating an estate plan may need more than just a will. Assets such as life insurance policies, annuities, individual retirement accounts and transfer-on-death or payable-on-death accounts are passed on to heirs using beneficiary designations....