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August 2020 Archives

Estate planning: Common causes for hesitation

In some cases, it may seem easier to create a reason to avoid addressing a seemingly difficult topic instead of facing it head on. Even if it might seem intimidating, the latter road could prove imperative in the future should the unthinkable occur. Individuals in Nevada may find that part of preparing to protect their futures through estate planning could involve understanding the reasons behind previous hesitations and seeking advice on how to overcome such reservations.

Possible benefits of estate planning early in life

While navigating through the early stages of adult life, many individuals may already have some form of idea as to what types of goals they have for the future. However, many might not always feel it vital to address or even plan for every possible scenario in life, as it might seem as though they have plenty of time to work out the details. Understanding the available options and possible benefits of estate planning at a young age could prove vital to helping alleviate common misconceptions and help a person better prepare for the unknown.

Taking steps to limit estate planning conflict

While preparing a strategy for life ahead, many individuals in Nevada and elsewhere may have concerns over the impact their choices might have on the relationships of loved ones. In some cases, parents may worry that the inheritance aspects of their estate plans could lead to some level of friction among their kids. Individuals who share similar concerns may find it helpful to seek insight on steps to take during the estate planning process that may help reduce the likelihood of conflict among loved ones.

Probate litigation: Do you have legitimate cause to challenge a will?

Perhaps your parents told you years ago that you would receive a substantial inheritance after they died. You may have had several discussions about their estate plans. Your siblings were no doubt included in these discussions where your parents made clear what they were planning to do. As is common in many Nevada households, life became busy or other issues arose that caused your mother or father to delay in signing a last will and testament. 

Cryptocurrency and its place in estate planning

In a digital era, assets such as cryptocurrencies continue to become more and more important to individuals of various walks of life. While cryptocurrencies such as bitcoin may go up and down in value over time, talks of digitizing currency may only act to further substantiate their value. However, when it comes to estate planning, many individuals in Nevada might feel unsure of the available options to help safeguard the value of such possessions.

Saving for college through estate planning

The idea of helping the kids pursue a higher education is a goal that may be shared by many parents in Nevada and across the nation. With the ever-increasing costs of tuition, starting to save for such an endeavor at an early stage could prove imperative. Parents may find it helpful to know that there are certain estate planning options that could prove helpful in such a scenario and seeking insight on these options could prove vital to helping ensure this dream comes to light.

Estate planning: Speaking with one's parents about the future

While many individuals may feel that having a strategy for the future is vital, they might not always understand the value of speaking to loved ones about their plans. For individuals in Nevada with aging parents, gaining awareness of their parents' wishes and preferences could prove vital in various ways. Individuals who wish to protect the interests and needs of their parents may find that talking with them about their estate planning goals could help limit stress should difficult scenarios arise in the future.

Estate planning steps after entering a 2nd marriage

After going through the end of a marriage, there may be many individuals in Nevada and elsewhere who eventually choose to enter a new relationship. Upon entering a second or later marriage, a person may wish to know the steps to take to update estate planning goals and keep the plan in line with his or her wishes. Although estate planning for blended families can be complex at times, there are a variety of measures individuals can take to help protect their interests and the interests of loved ones.

What role do digital assets play in estate planning?

While there was a time in which most individuals in Nevada and elsewhere stored many of their important documents in filing cabinets or safes, such a practice is no longer so common. Today, most individuals take to online outlets to store valuable documents and assets and while this may seem secure at the time, what happens to these assets after a person passes on? Understanding the nature of digital assets and how to include them in estate planning goals could prove vital to safeguarding one's future.

A trust may offer various benefits concerning asset distribution

When it comes to setting clear terms concerning how to distribute one's assets after death, most individuals may feel that creating a will is enough. While having a will can be beneficial in various ways, there may also be other estate planning tools that could provide additional options in this regard. In some cases, individuals in Nevada may find that creating a trust could provide them with more control over when and how their assets will be distributed.

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