Why individuals should consider a DAPT
Nevada residents and others who are creating their estate plans may want to consider including a domestic asset protection trust, or DAPT. These trusts offer a variety of benefits such as protection from creditors as well as privacy from those who may want to know the...
Aretha Franklin’s heirs will likely face estate taxes
The death of Aretha Franklin at the age of 76 saddened music fans throughout Nevada and the rest of America. Her passing also revealed that she did not prepare a will or any kind of estate plan. With an estimated fortune of $80 million, which includes illiquid assets...
Issues to consider when amending a trust
Nevada residents and others may want to amend their trust or amend one on behalf of a parent. The first step is to ensure that a trust's terms can be changed. In many cases, the terms can be amended assuming that the proper procedures are followed. Depending on the...
Famed singer Aretha Franklin dies without a will
Iconic singer Aretha Franklin was beloved by audiences in Las Vegas and around the world for her powerful voice and songs. However, when she passed away in August of advanced pancreatic cancer at the age of 76, she reportedly did not have a will or trust in place. As...
Incorporating digital assets into an estate plan
It isn't uncommon for Nevada residents to have digital assets like social media accounts or digital currency holdings. Currently, 42 states have laws that allow executors to manage digital assets like they do physical assets such as a home. However, even if they have...
About micro estate planning
Nevada residents may already be familiar with the various benefits that long-term estate planning can provide, such as the elimination of probate fees and a reduction in taxes. However, micro estate planning is a type of planning that many people should consider using...
Why are you hesitating to make your estate plan?
You have worked hard to achieve what you have. Even if you did not reach every goal you set for yourself, you are successful in many ways and respected by those who matter most to you. This is an important place to be in life, and it feels good to have some control...
The benefits of a micro estate plan
Nevada residents are likely familiar with the basic benefits of an estate plan. Generally speaking, estate plans can help keep estate taxes to a minimum or transfer assets without the need to go through probate. It may also be possible to designate a guardian for a...
Estate planning after an Alzheimer’s diagnosis
There are certain steps people in Nevada and their loved ones may need to take after a diagnosis of Alzheimer's. According to the Alzheimer's Association, it is the country's most expensive disease. Making plans after an Alzheimer's diagnosis involves both financial...
Effects of tax law changes on irrevocable life insurance trusts
In the past, Nevada residents with substantial estates who expected their heirs to owe federal estate taxes often planned for the expenses by creating irrevocable life insurance trusts. These trusts paid for life insurance policies funded with small gifts to pay the...