Questions to ask your estate planning attorney

On Behalf of | Aug 29, 2015 | Probate And Estate Administration

In Nevada, estate planning can become complicated. As such, it is often wise to consult with an estate planning attorney to make sure you don’t miss anything. While a quality attorney will be able to answer your questions before you even ask them, there are a few answers you should make sure you get in your first session.

First, ask if your will should be updated. If it’s more than a few years old, the answer is probably “Yes.” Laws and life circumstances change, and your will should reflect that. On the same note, you should ask your attorney how much will be left to your heirs if you died today. They may be able to assess the value of your estate, account for federal inheritance taxes and other factors and give you a rough estimate. 

Next, be sure to ask about all of your different options. For example, a living will is different than a medical power of attorney. In addition, a durable power of attorney is always a solid option, as it names someone to handle your estate if you become incapacitated. There are many different kinds of trusts and other tools to consider for your estate planning.

Finally, ask your attorney to analyze your life insurance and other policies and make sure they will work well with your estate plan. For example, some policies must go through probate, while others do not. Make sure you know how your heirs will inherit your assets in the event of your passing. An experienced attorney may be able to answer all of these questions and more to ensure your estate plan is sound.