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 observers believe that the answer is an affirmative one.
Those without children need to understand that they will have three likely landing spots for their assets after they pass away. If they choose to do so, their will can provide for all or a portion of their assets to be given to charity. Even though there are no children, testators may have other relatives or close friends who they want to see inherit. Without a will, however, the estate will be distributed in accordance with the state laws of intestacy, and if the testator had no surviving family members, the property would likely revert to the state.
Having a comprehensive estate plan can accomplish many other things in addition to specifying where the testator’s assets should go. Powers of attorney can give a trusted individual the authority to make financial or health care decisions in the event that the principal becomes incapacitated and is unable to do so. A living will can set forth the end-of-life medical decisions that the maker wants to take place.
The creation of a comprehensive estate plan can be made easier with the assistance of an attorney who has experience in these and other matters. An attorney can suggest a variety of different documents based upon a client’s particular goals and circumstances.