Changes an estate plan may need after divorce
Major life events should trigger a review of the estate plan for people in Nevada, and divorce is one of those events. The first step is to review the will. The executor, which is often the spouse, may need to be changed along with other elements of the will that...
When a will is not enough
Nevada residents who are wondering if a will is enough for an estate plan should consider several points. If someone simply wishes to transfer his or her assets to loved ones and does not care about efficiency, then a will may be all that is needed. However, when an...
Protecting an estate plan from legal challenges
There may be times in which a Nevada estate owner wants to disinherit a family member. While disinheriting is possible, the process should be done with the assistance of a professional. Otherwise, the disinherited person may be able to challenge the move and have it...
Revoking powers of attorney in Nevada
A power of attorney is the ability act on another's behalf in certain legal situations. In certain situations, the grantor may want to revoke these powers from an individual. If the POA has a specific termination date, it will cease to be effective as of that date....
Estate planning for deaths in quick succession
Some Nevada residents may be familiar with couples who were married for a long time and then died within a few weeks or months of one another. This is sometimes known as "broken-heart syndrome," and it may have played a part in George H.W. Bush passing away just over...
How to give the gift of estate planning
Nevadans who are 50 and older may be looking to find ways to secure their legacies both now and well into the future. This is according to the 2018 U.S. Trust Insights on Wealth and Worth study. It found that 67 percent of respondents in that age range want to invest...
4 ways to prevent power of attorney abuse
Your power of attorney designation is arguably the most important document in your estate plan. While your will and trusts manage your belongings after you die, your POA may very well determine the quality of life you have in your final years. Choosing the wrong...
Reasons an estate plan may need updating
Estate owners who have moved to Nevada from another state should consider updated their estate plans. State laws vary, and it might also be necessary to show proof of a change in residence. Moving to a different state is one of a number of reasons why an estate plan...
Common and avoidable estate planning issues
When it comes to making an estate plan in Nevada, the primary concern of most people is making things as stress-free as possible for their heirs. Among the problems that commonly arise in the administration of an estate plan are errors in beneficiary designations,...
Estate planning and funding a trust
Many people in Nevada create trusts as part of a comprehensive estate plan to leave their assets to beneficiaries. An important part of this process is putting assets into the trust. A living trust is usually designed to help manage assets during a disability and help...