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...
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...