Over the years, you may have had many people come into your life whom you care about immensely. Though some of those individuals may no longer be in your life, you undoubtedly still have loved ones you hold dear. Your spouse, children, siblings, parents and other close parties may allow you to feel a sense of connection and joy in your life.
Because you certainly want to avoid making any of your loved ones’ lives more difficult, you may have begun considering estate planning. Having an estate plan could allow your family to face fewer struggles in the event of your incapacitation or death because you will have already provided the answers to many questions that may come about during such an event.
Probate and property
When it comes to your demise, one of the biggest issues that your family will need to deal with relates to going through the probate process and distributing your assets. Probate can act as a beneficial process as it ensures that the document presented as your will is valid and that the appropriate parties carry out your wishes in the appropriate manner. Of course, probate can also prove time consuming and complex.
If you provide your executor and other individuals with instructions on how they should carry out your property division, you may help prevent unnecessary complications and conflict. Without a will, Nevada intestate laws would go into effect, which means that the court would decide who gets your property. With a will, your assets can go to your desired beneficiaries and reduce the possibility of individuals fighting over your property.
Because probate can take months if not years to complete, you may wonder if you could further help your family by avoiding the process. Luckily, options do exist for this type of action. If you choose to utilize trusts to address your property, assets in those trusts typically will not need to go through probate. Of course, in order to avoid the process altogether, you would need to ensure that all the necessary assets are placed into the appropriate trust.
Creating a plan
Because so many estate planning options exist, you may wish to gain more information on the possible tools you could use. This information may help you determine which options could most suit your needs and allow you to create a plan that assists your family in moving forward after your death more easily.