How an estate pays off its debts
Nevada residents who were in a marriage or civil partnership with someone who has recently died are not necessarily liable for their debts. Whether a person is liable for a given debt depends on whether or not his or her name was on the loan. Furthermore, a person may...
Tax law changes could affect charitable giving
For Nevada residents who are concerned about the future of their estate and who want to include charitable giving as part of their plans for their assets, recent changes in federal estate and gift tax laws might alter the way that they include philanthropy as part of...
Durable financial power of attorney and estate planning
Nevada residents who are going through the estate planning process might want to consider the benefits of adding a durable power of attorney. A power of attorney allows one person to handle the financial affairs of the estate holder. This could include filing tax...
Protecting a family member with an addiction in estate planning
Recently, the Trump Administration announced the intent to battle the opioid crisis in the United States. This is due to the alarming number of people who become addicted to these medications. It also highlights the problem of substance abuse and addiction as a whole...
Mistakes to avoid in estate planning
Nevada residents should be aware of a few common mistakes in estate planning. One of those errors is not having the minimum components of a plan. For example, many advisers recommend having at least a will and powers of attorney that appoints someone to handle...
Trusts can be a better option for gifts to adult children
When people in Nevada start to think about future planning, estate planning is often part of the equation. When people marry, have children or pass other significant life milestones, these events can draw attention to the importance of dealing with one's assets after...
Keep estates organized
One estate planning mistake Nevada residents should avoid is leaving their affairs in disorder. This includes the physical, legal and financial aspects of their properties. People tend to accumulate many items over the course of their lives and may make no effort to...
Reasons to use a trust for adult children
Some Nevada parents who are planning their estate might want to consider creating a trust to pass assets on even to their adult children. While it is not uncommon for people to create trusts for minor children, there are a number of reasons to do so for adults as...
The role of a will in an estate plan
Nevada residents may be able to achieve their estate planning goals with just a will. However, for many, wills represent the first step of creating an estate plan that truly meets a person's needs. To transfer assets to beneficiaries in a timely manner, an individual...
What type of information could you include in a living will?
Having the ability to make your own decisions may have been something you felt strongly about since you reached adulthood, or maybe even before. When it comes to decisions regarding your body and health care, you undoubtedly want to ensure that you have the final say...