Why it is vital to update a will
Because circumstances in life often change, residents of Nevada may wish to review their wills from time to time to keep it current. Events such as a marriage or the birth of a child can be cause for minor to major changes in a person's will and estate plan. Keeping a...
More states permit asset-protection trusts
Nevada and 12 other states provide various legislation to help individuals protect their assets through the use of trusts. More states have begun to embrace these special kinds of trusts in order to build upon existing financial planning methods and to attract foreign...
Avoiding common estate planning mistakes
While parents likely have good intentions in mind when setting up a willing and leaving inheritances, common estate planning mistakes can make a process that is already difficult for some to talk about more complicated. Those in Nevada who have started considering...
Establishing a special needs trust
Nevada families of mentally ill or disabled individuals may wish to learn about special needs trusts. This type of trust is designed specifically for individuals who may be unable to care for themselves. A family member usually manages the trust for the beneficiary. A...
Various types of trusts for Nevada residents to consider
For many individuals, estate planning and trusts can be confusing. The idea of avoiding probate is attractive, but reviewing types of trusts may seem challenging, especially as special needs trusts are researched. For many, a revocable trust is the most appropriate...
The importance of a will with a living trust
Individuals in Nevada who are planning their estate may wonder whether they need both a living trust and a will. A living trust should be accompanied by a will because there is still a need to distribute any assets that are not accounted for by the trust. A living...
Trustee responsibility for debts and expenses
Individuals in Nevada who are estate planning may wonder about the role of trustees and how they will handle debts and expenses. The trustee must take responsibility for valuing all assets as soon as possible after an individual's death as well as for assessing all...
The importance of health care directives
As medicine and technology advance, life expectancies in Nevada and throughout the United States are increasing. Along with longer lifespans come increasing complexities. For instance, it is likely that at some point, most people will need to make an important medical...
Grounds for challenging a will
Individuals in California may not realize that a will does not necessarily stand as written but can be challenged. It is a rare occurrence that rarely occurs, but there are a few grounds upon which a will may be successfully challenged. If there is more than one will...
Nevada trustee services
Management of your trust is important as you plan not only for your future but also for the futures of those who will inherit your estate. However, deciding on the administration of your trust can be challenging as you select a trustee. Confidence is an important...