Careful consideration crucial when choosing powers of attorney
The process of estate planning enables Nevada residents to determine how their assets will be managed after their demise. It is not uncommon for people to focus mainly on financial matters in estate planning; however, there are other crucial aspects to attend to....
Estate planning in Nevada involves more that just money
An important part of estate planning that is often overlooked by Nevada residents is planning the division of their personal possessions as paintings, ornaments, crockery and other heirlooms. Conflict often arises between children after the death of a parent, and it...
Residents of Clark, Nevada, who don't have assets totaling over $5.25 million -- or $10.5 million for a couple -- may not see any benefits in including trusts in estate planning. Federal estate taxes kick in after those amounts, and trusts protect assets from taxes....
Nevada residents of any income level or situation should consider future financial status. For elderly residents, financial considerations may be divided between handling current needs and assuring legacies are secured for heirs through estate administration....
Trust planning can protect assets and provide privacy
There are many reasons that Nevada families often look to trust planning as one way to protect their assets and provide privacy to their family. A living trust allows the individual to maintain control over the assets and alter the trust during his or her lifetime....
Will planning and preparation requires attention to detail
Over the course of one's lifetime, the average Nevada resident will most likely accumulate some assets and other items. More than likely, this individual has specific desires regarding who should receive these assets and items upon his or her death. These desires are...
Estate planning is not a one-and-done legal task for Nevada residents, and the earlier in life you create a will or other estate-related document, the more times throughout the years you should review it. Always review wills when major financial or life changes occur,...
Health care powers of attorney can be a gift for your family
Some gifts are better than others. Many Nevada residents would probably love to receive the gift of jewelry, a new car or perhaps even a fabulous vacation. However, many times the intangible things given are worth much more in the long run. One gift to consider giving...
A trust may be the best option in estate planning
The decision as to whether a trust is the appropriate move in an individual's estate planning process is an entirely personal one. Each Nevada resident makes this decision either actively or passively, depending upon his or her actions. There are a number of reasons...
Estate planning doesn't just lay out how your assets are passed to loved ones after you pass away. It also lays out important information about end of life wishes, including future health care and whom you wish to be your power of attorney. One important aspect of...