Lessons learned from celebrity estate plans
Many Nevada residents might think that estate planning is meant more for wealthy people, but it is an essential part of nearly every financial plan. It is a mistake, according to financial planning experts, to ignore the possibility of death at any age. One way to...
Items that can be inadvertently missed in a will
Nevada residents may believe that their affairs are in order when their wills are completed, but it is possible to miss important issues that could complicate matters after a testator's death. Unfortunately, a final will and testament can't be corrected after one's...
Choosing a trust over a will
Many Nevada residents prefer using a trust instead of a will as their primary estate planning document. There are several reasons why people use a revocable trust when planning on how to dispose the assets of their estate after they die. However, it's important for...
Explaining the executor’s role
When Nevada residents die after having prepared a valid will, they normally will have named someone to act as the executor. It is important for those who have been so appointed to understand what they will need to do and what their roles may entail.The first thing an...
The role of a will in Nevada
Although a will may be an efficient way to transfer assets upon an individual's death, there may be more options for him or her to consider. For instance, some assets are transferable upon death, which means the named beneficiary will merely need to show...
Insufficient estate planning can cause family drama
When parents die without a will in Nevada, there can be a lot of confusion about who should inherit their assets. If there is a large estate, the questions over where the money should go can cause rivalries to develop between siblings. Although some parents think that...
Three common applications for trusts in estate planning
Trusts enable people in Nevada to control or protect assets during their lives and after their deaths, often for the benefit of heirs. These legal tools have been developed to support many financial situations. Three common forms of trusts are revocable, irrevocable...
Having a will makes arrangements for the future
As Nevada residents know, structuring a will to protect assets and provide for loved ones after death is an important act for anyone. In addition, creating a will lets an individual direct the manner in which things are handled in the future. An important...
Choosing an executor under a will
When Nevada residents are creating their will, one of the most important decisions that they will have to make is who to name as the executor. The executor is the person or entity that is responsible for gathering all of the assets and distributing them to the...