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Powers of Attorney Archives

Simplifying an executor's job

When Nevada residents begin the estate planning process, they are often concerned with ensuring that their assets are fairly distributed to their children and loved ones. Another consideration, however, is less obvious, and that is how to make the executor's job easier.

The power of attorney and other estate planning considerations

Some Nevada residents may wonder whether they need to include a power of attorney in their estate plan. An estate plan is important for everyone, but in particular, people who do not have children or a spouse may need to take certain steps to ensure that their wishes are carried out. For example, a person whose closest relatives are half-siblings may be closest to one and want to leave the estate to that person.

Powers of attorney may require periodic updates

Powers of attorney are among the most useful, flexible instruments in estate planning law. Legislative changes in Nevada and across the country, though, have given health care providers and financial institutions new reasons to reject them. There are steps that individuals can take, either on their own or through their attorneys, to ensure the continued effectiveness of powers of attorney.

How to preserve powers of attorney

Las Vegas residents may benefit from having both medical and financial powers of attorney as part of their estate plan. These documents allow an individual to appoint someone to handle his or her affairs if that person cannot. However, changes to the law may result in a financial institution or a healthcare provider to reject the document. The first step to avoiding this fate may be to talk with an estate planning attorney.

About disability planning

When creating an estate plan, Nevada residents should include the possibility of having a disability. Planning for disability can limit confusion among family members and ensure that one's assets are protected while they are incapacitated.

Appointing care agents may be in your best interest

Throughout your life, you likely have become ill or injured multiple times. During these times, you probably had a family member or other loved one available to help take care of you. On the other hand, you may have provided the care for a sick or injured loved one. As a result, you undoubtedly understand the importance of proper care.

The importance of living wills and powers of attorney

Both living wills and powers of attorney are vital documents for proper health care planning in Nevada. However, it is important to note that they have two distinct purposes as part of an estate plan. A living will is a document that spells out what should happen to an individual if he or she is incapacitated. It will describe what treatment he or she would like to receive as well as what type of treatment options to avoid.

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 draft powers of attorney despite the fact that their spouse can automatically function in the role.

Making timely decisions about power of attorney duties

Nevada residents who become mentally incapable of managing their affairs could face some serious difficulties if there is not a valid power of attorney in place. Although this issue might seem like an end-of-life matter, the reality is that people of all ages can be mentally affected by accidents or illness.

The importance of estate planning in Nevada

Alzheimer's disease and dementia can make elderly individuals unable to handle their own finances or even make choices about their care. This will not happen to everyone, but it is important for people to create estate planning documents that ensure that they can be cared for and their money managed if they become incapacitated.