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

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.

When creating a trust, a trustee is named. The trustee, who can be a trusted friend or family member or a professional like an attorney, owes obligations to the people named as beneficiaries of the trust. This means that the trustee of a trust must not simply follow all instructions by the creator of the trust, known as the settlor. In the case of a revocable trust, it can be undone at any time. Still, the trustee has a responsibility to think about the interests of the beneficiaries as long as the trust is in place.

Some states differ about how to handle this matter as an issue of law. In some places, only the settlor's interests are primary unless he or she is incapacitated. In a case where the trust only passes on after death, it is questionable whether a beneficiary could challenge a living settlor over trust actions.

However, there are questions that may arise in case a settlor becomes incapacitated, especially if actions are taken to injure the interests of a named beneficiary. People may consult with an trust planning attorney about how to construct their trusts in a way that allows for maximum flexibility and protection.

No Comments

Leave a comment
Comment Information
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