More parents leaving children unequal inheritance
Parents in Nevada do not always leave their children equal shares of their estate when they die. In fact, unequal bequests have been on the rise in recent years, as more and more parents choose to leave one child a greater portion of their assets than their siblings....
Uses of a living revocable trust
People in Nevada may find that a living revocable trust meets many of their estate planning needs. However, a living revocable trust does not eliminate the need for a will. A will can help protect assets from creditors and appoint guardians for minor children....
Estate issues and the death of David Bowie
Nevada residents may be mourning the loss of pop artist David Bowie, who died in January 2016. Information about the 69-year-old star's estate planning may remain mostly private because of his careful attention to this interest from early on in his life. Reports...
Anonymity and lottery winnings
While most forms of gambling are legal in Nevada, lotteries are not, which is why so many residents of the state often travel to neighboring towns in California or Arizona to buy tickets when Powerball jackpots reach stratospheric levels. While the idea of winning...
Nevada’s favorable trust laws
Nevada is one of the states viewed as having extremely favorable laws regarding trusts. The state allows a single individual to create a trust, be the trust's beneficiary and place the assets of the trust outside their estate, which could be a particularly attractive...
An overview of estate administration responsibilities
Estate administration is an important process following the death of a Nevada resident. This process involves handling the decedent's belongings and accounts as creditors are paid and remaining assets are distributed to heirs. The party responsible for administrating...
The importance of a power of attorney
People in Nevada who are working on their estate plan may want to consider including a financial power of attorney as part of that plan. A durable power of attorney grants immediate access to the principal's financial affairs while a springing power of attorney kicks...
Managing an inheritance
Some people in Nevada who inherit money may be surprised to learn that the inheritance does not automatically make their lives easier. In fact, in some cases, people who are unprepared might make unwise decisions about an inheritance, but there are some strategies...
Using a family trust to secure wealth
People in Nevada who are preparing their estate plans may wish to preserve wealth in their families for many years to come. However, what often happens to family wealth in reality is that it often dissipates over just a couple of generations. That which is passed down...