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June 2014 Archives

Different types of trust fund for different needs

Nevada residents interested in setting up a trust may realize the importance of making the right choice when choosing the kind of trust fund that suits their needs. The reasons someone sets up a trust fund differ, and understanding the types of trusts and their characteristics is important.

Estate planning tips for Nevada residents

It is natural for those who are left out of a will to feel a certain level of bitterness or regret. In the case of one woman, her 74-year-old father left a $1.6 million trust as well as his possessions to his third wife. Instead of getting a portion of her father's estate, she and her family got nothing.

How to create a will in Nevada

A will is the final testament of a deceased person and spells out who will receive money or other assets when that person passes. There are a few steps to take to help ensure that the document will be enforceable. First, it is important to get rid of any older versions of a will as this will reduce the odds of a challenge to that document in court.

Who gets the house?

Nevada residents that are beginning to explore the estate planning process may be curious whether leaving their homes to children is the best course of action. Some families are torn apart when a parent chooses to leave a home to one child, which can lead to fights with siblings. Whatever decision is made, many experts recommend that parents communicate their wishes to children so there are no unpleasant surprises when the will is read.

Estate planning for someone with money and without heirs

When a single person or childless couple in Nevada decides to set up their estate plan, they might wonder how to distribute their wealth. Several considerations could include former schools, family members, charity or even a pet. In addition, they might wonder how to ensure that their efforts at will planning are honored after they're gone. In addition to 17 million single Americans older than 65, younger individuals are making these decisions before they even marry. Some of them might have received significant inheritances or earned money through the stock market or selling a new business.

Estate planning and digital assets

Nevada residents who are considering estate planning must remember to make provisions for digital assets as well as physical ones. Increasingly, people have more personal and financial information stored online and use the Internet to bank, pay bills and even invest. Passwords and usernames can make it impossible to access important information, and in some cases it may not even be clear what accounts a person owns. Just as physical property is addressed in wills, digital property should be as well.