Cassady Law Offices, P.C. - Las Vegas Estate Planning Attorney
Call for a free consultation

August 2019 Archives

Becoming an estate administrator when there is no will

One function of a will is to appoint someone to be executor of the estate. If a person dies without a will, which is known as dying "intestate," someone still needs to be appointed to administer the estate. While Nevada may have specific laws about classes of people who cannot serve as an executor or administrator, in general, there are several steps a person must go through to assume this position.

Pour-over wills and trusts

Trusts have become the gold standard for many people in Nevada when it comes to making plans for the future. They can be used not only to set up advantageous tax structures during the creator's lifetime but also to pass on key assets after death. Trusts have several advantages for the estate planning process. They provide a higher level of control and specificity about how assets are distributed. In addition, they provide significantly more privacy. Unlike wills that move through the probate courts, trusts are handled as private matters. Trusts also provide greater abilities to create ongoing funds and generational wealth to support future family members, charities or philanthropic work.

Reconsider using a safe deposit box to store your estate plans

Estate planning is a deeply personal experience. You and many other Nevada residents may have recently gone through the process in hopes of getting your final affairs in order well before the time comes to implement your plans. Taking this step is a considerable undertaking, and you should feel proud for completing the process.

Balancing interests when managing trusts

Trusts can be an important part of estate planning for many people in Nevada. These instruments allow people to pass on important belongings and assets with a higher level of privacy. They also offer a greater amount of discretion and control. A revocable trust can be used along with a power of attorney to make sure that the grantor's assets are handled well throughout their life, even if they face incapacity or cognitive decline. It allows property to pass after death without going through probate courts, giving a higher level of protection to the decisions made by the person passing on their estate.

Providing for pets in an estate plan

When Nevada residents are planning their estate, they might first think about how they can provide for their children or a favored charity. However, for many people, pets are a beloved part of their lives, as close as a family member and with no ability to provide for themselves. Many pets can live long lives, and their owners want to make sure that the pets will continue to enjoy a good life even after they are no longer personally able to provide it. People can include their pets in their estate plan in order to help protect their animal companions' future.

Changing the terms of a will in Nevada

Nevada residents who are legally competent and 18 or older may draft a last will and testament. They may then amend or revoke a will when their situations change. They can also make changes as often as they wish. However, making frequent amendments could raise questions about the testator's state of mind and lead to speculation that changes were being made under duress.

New law could impact how estate plans are structured

The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 likely changes the tax treatment of inherited IRA accounts. The legislation was approved in the House and will likely be approved in the Senate as well. Previously, Nevada residents could transfer an IRA to beneficiaries who weren't spouses. Those beneficiaries could then stretch distributions throughout their expected life spans.

Bring up estate planning after a loved one's dementia diagnosis

When a loved one learns that he or she has a progressive condition like Alzheimer's disease, it can seem as if life has been turned on its head. You and other family members may worry about what this will mean for your family, and depending on the stage of the disease, you may need to make many changes quickly.

Considerations when starting the estate planning process

For many Nevada residents, estate planning is not something that is considered to be a priority, especially when the person is healthy. However, it can suddenly become an issue if the person falls seriously ill. In other cases, the person may become involved in a serious accident and not survive. If this happens, the person's remaining family are left to deal with the person's estate.

Why and how to set up a spendthrift trust

A person in Nevada who is creating an estate plan and is concerned that an heir might be irresponsible with an inheritance may want to consider setting up a spendthrift trust. This allows the heir to receive distributions from assets in the trust, but a trustee controls when those distributions are made.

What to consider when writing a will

Those who live or own property in Nevada may be able to write their own will. However, it may not be the best idea to do so. This is because there are many issues that people may not account for on their own. For instance, an individual may not realize that minors can't own property outright. Furthermore, someone who writes his or her own will may not realize that it can be used to designate a guardian for a child.

Email Our Team

More Questions? We Have Answers.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Las Vegas Office
10799 West Twain Avenue
Las Vegas, NV 89135

Toll Free: 800-557-6423
Phone: 702-706-1083
Fax: 702-650-5561
Las Vegas Law Office Map

Henderson Office
2425 W. Horizon Ridge Pkwy.
Henderson, NV 89052

Toll Free: 800-557-6423
Phone: 702-706-1083
Map & Directions