Estate planning in light of tax law changes
There are a number of federal tax law changes associated with the Tax Cut and Jobs Act passed in December 2017 that can be relevant to people in Nevada who are working on their estate plans. The law went even further than previous tax changes to remove gift, estate...
The importance of powers of attorney
Nevada residents may understand how important an estate plan is. They may also be making common yet costly mistakes that could make it difficult to carry out their wishes. One of those mistakes is not reviewing plan documents on a regular basis. Generally speaking,...
Using multiple trusts
Nevada residents who have already established one trust may want to create a second one. Unlike with wills, which usually include provisions that stipulate that the most recent will revokes all earlier ones, the creation of a new trust does not cancel out prior...
How the estate tax exemption may affect estate planning
People in Nevada might want to take another look at their estate planning after the passage of the tax bill at the end of 2017. This bill raises the estate tax exemption for individuals to more than $11 million and for couples to more than $22 million. This means that...
How can an executor protect a deceased loved one’s assets?
Acting as an estate executor is an immense responsibility. While a loved one may ask you to take on this role in hopes that you will feel honored and trusted, you could find yourself feeling overwhelmed and stressed when the time comes to carry out the necessary...
Estate planning can be critical for business futures
Business owners in Nevada may be aware of the importance of estate planning for their personal belongings and properties. However, estate planning can be just as important to protect the longevity and well-being of a business. When the principal of a business passes...
Why to choose a trust
There are multiple factors Nevada residents should consider when trying to determine if they need a trust. Despite popular belief, trusts are not intended only for the wealthy, and individuals with any amount of assets may find that establishing a trust can be...
Dealing with debt as an estate executor
You may have felt honored and flattered when a loved one asked you to be the executor of his or her estate. Perhaps you had visions of being the person who delights the beneficiaries of the deceased by announcing what each would inherit. Since your loved one has...
Many people lack basic estate planning documents
All Nevada residents, even those who fall in the middle and lower income brackets, can benefit from having an estate plan. However, a recent survey found that over half of those living in the United States don't have basic plan documents. These documents may include a...
Problems that arise in estate planning with blended families
Disputes over estate plans may be more likely to happen among blended families in Nevada than in families in which there are not stepchild and stepparent relationships. These disputes may be more common in families with stepmothers, in part because women are more...