How families can talk about estate planning
Nevada families may struggle to talk about estate planning, but it is an important conversation to have. Often, these discussions only occur in the middle of health crises. A better approach is to talk about it early. This can be done with a financial or legal...
Being open and objective is important when acting as executor
When your loved one passed, the loss likely made you sad but also grateful that he or she created an estate plan. Hopefully, you knew ahead of time that your family member chose you to act as the executor of the remaining estate, as having a will and other estate...
Discovering undisclosed assets when a loved one passes away
When a loved one passes away in Nevada, family members, beneficiaries and the executor of the estate may be concerned about how they can find all of the property that belonged to the deceased person's estate. In some cases, assets are found years after a person's...
Planning for incapacity as part of an estate plan
Some people in Nevada who have created a will or a trust may feel that they have completed all the necessary estate planning documents. However, they may not have prepared documents that deal with becoming incapacitated. A health care directive, also known as a...
Should people have more than one trust?
Many people in Nevada know that establishing a trust can be an important part of estate planning that provides greater privacy and flexibility. However, they may wonder if there are benefits to establishing more than one trust to cover different types of property....
Tips to help Nevada residents with estate planning
Typically, when a person dies, a portion of that individual's estate goes to a spouse or child. However, not everyone wants to leave assets to their family members when they pass on. If a person specifically disinherits a child in a will, that son or daughter is...
How family dynamics can complicate estate planning
Many families have dysfunctional dynamics that can make estate planning difficult, and in families with high net worth, the stakes can be particularly high. However, the basic advice that experts give for high net worth families can apply to most other situations...
Retirement accounts never go through probate. Right? Wrong
When you either started a Roth IRA or began participating in your employment retirement plan, you should have filled out a beneficiary designation form. You believed that filling that out would guarantee that the person or people you designated will receive the funds...
Trusts should be revoked by their own terms
Trusts can be an important and useful part of a Nevada estate plan, but there are some circumstances under which a person may want to revoke a trust. If the trust is irrevocable, that can be a complicated process. To revoke a revocable trust, though, the person should...
What people should know about family members contesting a will
Nevada residents who have been left out of a family member's will and those making their will may be interested to learn whether a family member can contest a will if they are not included in it. The basic answer is yes. It is possible for a family member to contest...