Many in Nevada are reluctant to think about what will happen after they pass away. Someone who is young and healthy may not think it’s necessary to have plans and protections in place for the future, but in reality, estate planning should be done as soon as possible. Life is unpredictable and having a plan can reduce the chance of causing complications for loved ones in the future. It can also allow an individual to have a say over his or her own health care in case of incapacitation.
The assets of anyone who passes away without a will are distributed according to state law. Intestacy laws don’t consider what the deceased may have wanted, the wishes of loves ones or even what would be best for beneficiaries. This only one of the many reasons why it is useful to have an estate plan in place. Through a will, an individual will have the right to say what happens to his or her property and money.
The young may not have high incomes and substantial valuable assets, but they do still have things worth protecting. Through estate planning, they can decide who will take care of their children in case they pass away. They can also decide where they want their money to go and make choices about specific types of health care they may want, such as being put on a ventilator or receiving a blood transfusion.
Estate planning is a smart step for all Nevada adults. Living without an estate plan is risky, regardless of age, health status and income levels. Seeking an assessment of the individual case can reveal what protections are necessary for a complete estate plan.