Using trusts to place conditions on inheriting assets
Nevada residents who are working on their estate plans may wonder what kind of conditions they can put on an inheritance. For example, they may wish to pass assets to a beneficiary who is married to someone they dislike, and they may not want that spouse to have...
Strategies to reduce taxes in estate planning
Individuals in Nevada who are working on an estate plan may be wondering how to protect their assets from taxes. Even the beneficiaries of those whose estates fall well under the federal exemption limit of $5.43 million may face taxes on assets like second homes and...
Preserving family wealth through dynasty trusts
Wealthy Nevadans who want to ensure future generations of their families benefit from their money may want to consider establishing dynasty trusts. These trusts can help money used to fund them to grow indefinitely, allowing multiple generations to benefit from it.A...
Trusts can help protect estates from tax
Nevada residents should avoid the errors made by the late actor James Gandolfini when it comes to estate planning. When Gandolfini died unexpectedly in 2013, his $70 million estate was vulnerable to estate tax. An irrevocable charitable trust is one way of protecting...
Woman’s destruction of fortune teaches estate planning lesson
Nevada residents may have read about the Austrian woman who reportedly destroyed her fortune to prevent her heirs from getting anything when she died. The woman reportedly shredded approximately $1 million worth of Euros and left the pieces all over her nursing home...
Constructive trust addresses potential estate-related problems
Some Nevada residents may worry that their estate plans won't turn out as desired in spite of careful work to detail their wishes in a living trust or last will and testament. However, constructive trusts can be used to address a number of situations involving the...
Celebrity estate planning
Estate planning is often misunderstood by Nevada residents as to how the various roles assigned to individuals with differing responsibilities function. Kris Jenner, the Kardashian clan matriarch, illustrated this when she stated that Caitlyn Jenner was no longer the...
Foreign wills in Nevada courts
Although it doesn't occur frequently, sometimes Nevada courts will have to determine the validity of a will that has been executed in a foreign country. When a foreign will is written after a will was executed in Nevada, the question remains how the court will treat...