Cassady Law Offices, P.C. - Las Vegas Estate Planning Attorney
Call for a free consultation
702-706-1083

Importance of thoughtful planning in the event of incapacitation

Unfortunately, circumstances can occur that will leave others in a lurch.  There is a need for thoughtful planning in the case that an individual becomes incapacitated or dies so that one's business and family can carry-on and not face hardship. 

When an individual owns a business, they may wish to put together a plan that ensures a smooth succession.  This plan will include successors to take over the leadership role, deal with any tax consequences to the estate, make certain business debts are dealt with, etc.

In the case of the family, planning is even more vital.  Unfortunately, as so many individuals do not wish to confront this possibility, individuals put-off planning and the creation of necessary documents.  These are not decisions that anyone would wish to have left up to the courts.  Families will also have to deal with tax consequences in the event that a loved one dies.

In the event that someone is incapacitated, they will also wish to have an individual present that they can trust to make determinations for them.  For this reason, Nevada readers may wish to have drafted a power of attorney and important medical instructions.  A durable power of attorney can allow an individual that one trusts to act on one's behalf in the event of incapacitation.

As these decisions are so important, no one wants for there to be an error in the drafting of estate planning documents.  Properly drafted wills and powers of attorney can ensure that one's wishes concerning any number of matters will be honored.

Source: Huffington Post, "Hit by the Bus: How to Protect Your Business, Your Family and Yourself," Jack Garson, Dec. 11, 2013

No Comments

Leave a comment
Comment Information
Email Our Team

More Questions? We Have Answers.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Las Vegas Office
10799 West Twain Avenue
Las Vegas, NV 89135

Toll Free: 800-557-6423
Phone: 702-706-1083
Fax: 702-650-5561
Las Vegas Law Office Map

Henderson Office
2425 W. Horizon Ridge Pkwy.
Henderson, NV 89052

Toll Free: 800-557-6423
Phone: 702-706-1083
Map & Directions