Every day in Nevada, people are born and people die. While those just born most likely do not have assets to call their own, almost every individual who dies will leave behind something that he or she owned. Then the decision as to who should have ownership of these assets must be determined. The simplest way to ensure that assets are distributed as the individual wishes is by creating a will while the individual is still able to do so.
Almost every individual will have something that will need to be passed on to another. Many people think that it is enough to verbally tell another individual how he or she wishes assets to be distributed. However, the actual instructions can be misinterpreted, or potential beneficiaries may contest what is being said. In this case, without a written will, it may be up to the courts to decide who will receive what.
By creating a will and having it properly notarized, the individual can specifically state which assets are to be distributed to which beneficiary. This method should leave no question as to the intent of the deceased. By drafting a will while the individual is still able to do so, he or she can potentially save his beneficiaries the expense of allowing a court to make the decision.
While the majority of individuals in Nevada do not want to think about their own death, it is a fact of life. Furthermore, it is a fact of life that can be planned for in regard to assets and their distribution. Regardless of the value of an individual’s estate, a will is the first step in creating one’s estate plan.
Source: limaohio.com, “Legal-Ease: Is estate planning worth the effort?”, Lee R. Schroeder, March 28, 2014