Creating an estate plan in a blended family
People in Nevada who have remarried but have children from a previous marriage need to take steps to ensure that both their spouse and children are taken care of in the estate plan. A simple will is usually not sufficient in these situations. If a person leaves...
Health care powers of attorney can aid decision-making
When Nevada residents think about estate planning, they may consider it a matter for dealing with wills or trusts. However, some of the most important documents can affect the way people are treated while they are alive but incapacitated. Many people have strong...
When was the last time you updated your estate plan?
Creating a will is one of the best steps any Nevada resident can take to ensure that surviving family members understand certain end-of-life wishes. Of course, this and other estate planning documents are only helpful if the information in them is up-to-date and...
Why parents may want to consider a trust instead of a will
It's not unusual for parents in Nevada to instinctively think of a will when estate planning is discussed. Part of the reason for this is a lingering assumption that trusts are only for wealthy individuals, or that they are just too complicated. However, there are...
Surviving the Nevada probate process
Prince's siblings are in a dispute with the bank handling the late singer's estate and have filed a petition to limit the bank's powers. They say that Comerica Bank & Trust has wasted millions of dollars, and they want more control over how Prince's estate is...
Common mistakes executors of wills should avoid
When a Nevada resident is appointed an executor of a family member's will, it may seem like the to-do list is endless. Most of the time attorneys and a team of advisors, including insurance experts and accountants, are involved. They are helpful in prioritizing tasks...
Tom Petty’s widow in probate battle with his daughter
Nevada fans of late singer Tom Petty may be surprised to learn about news of ongoing family drama concerning his estate. Petty's widow is in a probate battle with the singer's daughter. It's a fight that could also affect the release of future albums from the "I Won't...
Who will raise your child if you pass away?
New parents here in Las Vegas and elsewhere often anxiously and excitedly await the newest additions to their families. Perhaps you are one of them. During this time, there is often a flurry of buying. Diaper genies, baby bathtubs, diapers and everything else a baby...
Estate planning lessons to be learned from Lee Radziwill
While some people in Nevada have a natural curiosity about what kind of salacious details might be found in celebrities' estate documents, there are sometimes important lessons to be learned when such individuals pass. This is the case with American socialite, public...
The influence of step-up in cost basis on inheritance
People inheriting various assets in Nevada could enjoy certain tax advantages due to the concept known as step-up in cost basis. This term refers to an asset's increase in value while someone possesses it. A person who buys a stock for $2 a share and then sells it...