Creating a trust for educational purposes
Parents in Nevada and throughout the country may want to leave money to their children for educational purposes. Generally speaking, this is best done by creating a trust. Individuals can choose between a pot trust or creating a separate document for each child. With...
Should you include a no contest clause in your will?
You may have watched your family squabble over various topics for years. Now that you have started considering your estate plans, you may only think of ways that your family will nitpick your choices and potentially cause serious legal fights over your estate....
Estate plans require periodic follow ups
Estate planning in Nevada is a continuing process. For many people, there is follow-up required even after a will has been drafted and trusts, living wills or powers of attorney have been established. People should make sure that beneficiaries are properly designated,...
How to establish a legacy of giving
For some in Nevada and throughout the country, charitable giving will be an important part of an estate plan. However, it is important to know how to incorporate it in a way that makes sense. First, an individual will want to consider the type of charities that are...
Millennials may want to plan for incapacitation
When people hear references to the Millennial generation, they may think of young kids attached to their smartphones. However, if you are between the ages of 23 to 37, you fall into the category of the Millennial generation. While you may still have a great deal of...
Including pets in an estate plan
People in Nevada who are creating an estate plan might be concerned about what will become of their assets after their death and ensuring that their children and other family members are taken care of. However, if they have beloved pets, they may also want to make...
Digital assets in an estate plan
Like most states, Nevada has a law in place that allows executors to manage digital assets just as they would manage more traditional assets, but people who are creating an estate plan with digital assets still have to make the right legal and technical arrangements....
Ways to use estate plans
The main reason many Nevada residents may create an estate plan is to implement tax-saving strategies that can limit the estate taxes their heirs may have to pay. However, there are other, non-tax reasons estate planning should be used.With the proper estate plan in...
What to know about inheriting timeshares
While timeshares may be attractive to some, future generations may not want to inherit the cost associated with them. However, there are ways that Nevada residents and others can avoid taking them over after a parent or other family member passes on. One option is to...
A general overview of trust options
A trust is a relatively common estate planning tool that individuals in Nevada and throughout the country can use. Their structure will largely determine how they are taxed and how they are controlled. It will also play a role in determining if assets in the trust are...