Second marriages and estate planning in Nevada
When people remarry, their estate planning may be more complicated. People often have to take into account children from their prior marriages as well as the potential for children from their second marriages when planning their estates. Before getting married, people...
How to limit or avoid state estate taxes
In addition to the federal government, many states impose taxes on the estates of wealthy people following their death. However, there are ways to get around these estate and inheritance taxes. One possible way is to relocate to a state like Nevada that has no such...
Digital wills in Nevada
If a Nevada resident has a will drawn up, it does little good to the testator's heirs if they are not able to find it. Some people spend years searching for financial and estate planning documents following the death of a loved one, so some startups have started...
Will planning is important even for those without children
Estate planning is a frequent concern for Nevada residents. In order to ensure that their family members are taken care of, most people will prepare a will. However, many people who are unmarried and who have no children may wonder if a will is even necessary. Most...
Powers of attorney and trusts
Both the power of attorney designation and the formation of a trust are powerful estate planning tools that many principals use in Nevada. A trust can help provide detailed instructions on how a person's assets should be managed for the benefit of others. A power of...
Being appointed as an executor
One of the most important decisions that a Nevada resident makes when preparing a will is who to name as the executor of the estate. However, an executor does not have to accept the job simply because he or she was named in this role in a will. Being an executor...
How income generated by a trust is taxed
Many Las Vegas residents set up trusts as part of their estate planning strategy. Trusts can help to reduce estate taxes, protect assets from creditors and provide beneficiaries with regular income disbursements over a long period of time. While trusts are very useful...
Estate planning with tax considerations
Nevada residents who have substantial assets may want to think about how to best structure their estate planning to take advantage of gift and estate tax exemptions while making sure they retain enough wealth to care for themselves and their needs through a...