Single people must plan their estates, too
In Nevada, most married couples know the importance of estate planning. But singles often get left out of discussions on this topic. But singles should, perhaps more than married individuals, consider what will happen to their estates in the event of their...
What is a spendthrift trust?
Nevada residents have many different types of estate planning tools at their disposal. One of these is a spendthrift trust. Essentially, this type of trust is ideal for those who have a beneficiary who cannot control their spending habits.Under Nevada law, a...
Different forms of power of attorney
As people age, they tend to lose some of their cognitive function. Maybe their memory slips, or perhaps they find they cannot make financial and legal decisions for themselves. As such, it may be wise to grant a loved one or trusted advisor the power of...
Can a child be held responsible for a parent’s debts after death?
We recently published a post about who inherits credit card debt when the cardholder dies. But other types of debt may be an issue as well. One primary concern is who will pay for a loved one’s health care expenses after death if insurance, Medicaid or some other type...
The validity of an electronic will
Computers are a necessity in our modern age. With so many vital documents being digital, the question of an electronic will is one often asked by Nevada residents. Are such documents valid and legally binding? The answer is yes, as long as they meet certain...
You have created a trust. Now, how do you administer it?
You may already know about the advantages of a trust when it comes to avoiding probate, minimizing estate taxes and more. But if you are a new trustee, or are working with one, you may discover that there are many things that you did not know: such as, how do you...