Using trusts to reduce estate taxes
When Nevada residents think about planning for the future, they may be concerned about how estate taxes could affect the beneficiaries of their estates. There are a number of ways that people can help to reduce the tax burden by taking some steps to plan ahead. One of...
Estate planning for parents with children who have special needs
For parents in Nevada whose children have special needs, it is important to create an estate plan. In many ways, this estate plan is not very different from the estate plan anyone else would create. The parents still need to consider the same essential components...
Law places restrictions on use of estate funds by executor
Although people assigned as executors of estates in Nevada may use estate funds in a number of circumstances, the law prohibits executors from pursuing their own interests at the expense of the estate. Primarily, executors must not apply estate funds for the purpose...
Estate planning beyond the will
Nevada residents who are creating an estate plan may think that they only need to create a will. However, addressing other details may help reduce family conflict and can help ensure that other important elements are not forgotten. One of those issues is beneficiary...
How and when is it possible to avoid the probate process?
When Nevada families are dealing with the loss of a loved one, they know there are several steps they will have to take in order to settle his or her estate. One of the main concerns of families going through this process is the issue of probate. In some cases, it may...
How to manage estate plans in a blended family
Parents in Nevada who are about to get married again may have a challenging estate planning dilemma to solve. If an estate plan is not created properly, the children from the previous marriage could get nothing. Meanwhile, the new spouse could receive all of an...
Millennials largely don’t have wills yet
A recent survey published by Caring.com says 78 percent of Millennials don't have wills. Talking about death can make people uncomfortable, but people in Nevada who die without a will can cause problems for their loved ones. A simple will sets forth how a person,...
Clergy procrastinates estate planning decisions
Most residents of Nevada understand that estate planning is key to providing loved ones the easiest possible path to navigating the death of a family member. One might assume that those in professions regularly dealing with death and the sometimes messy aftermath...
Selling a home during the probate process
After a loved one's death, heirs, beneficiaries and the executor often have to handle much property that the deceased left behind. Commonly, a will -- if one exists -- can help address the distribution of those remaining assets. Of course, you may not want to keep a...
The importance of estate planning for small business owners
Every adult needs an estate plan, but for business owners in Nevada, an estate plan is particularly important. A will and other documents can help ensure that an owner's wishes for the business are carried out.The first step is to create a will. The will needs to name...