How do executors provide creditors with notice of the estate?
Serving as the executor of someone's estate means taking on numerous responsibilities. An executor must disclose the contents of the will to family members. They have to oversee probate proceedings and distribute assets to beneficiaries. Their role also requires that...
Don’t appoint a relative as trustee for a spendthrift trust
As we have mentioned in previous blogs, funding a spendthrift trust is a good way to protect your beneficiaries from their worst instincts regarding money. But when you are adding one to your estate plan, there is something else that you may want to consider. Choosing...
How can working with a Certified Financial Planner lead to a solid estate plan?
Successful adults will always need assistance with the creation of a retirement plan and an estate plan. A surprising number of people don't understand the importance of financial review in the estate planning process. They may work with a financial professional when...
How an estate plan can reflect your values
Most people think of estate planning as a purely financial process. You have assets, you need to leave them to the next generation, and you need a plan so that it happens the way that you want. You may also think beyond just financial assets and consider things like...
Don’t remove items from a home before probate
When a parent passes away, adult children may return to the childhood home. It’s an emotional, sentimental time. They see those familiar rooms where they ate dinner, watched movies and grew up with their parents. The house feels strangely empty and quiet. It really...
4 serious mistakes people make with when choosing an executor
Proper estate planning is critical to your family’s future stability. That’s one reason why it’s one of the most loving actions someone can take. That means there’s a lot riding on the shoulders of the executor you choose to manage your estate. However, too many...
Are there any advantages of going through probate in Nevada?
The definition of probate is simple. It is essentially a court process to prove that a person’s will was signed and executed legally. However, the probate process remains poorly understood across the nation, including here in Las Vegas, Nevada. If asked, nearly...
The estate planning documents even college students need
Even young, college-attending adults should understand estate planning and the need to have certain documents in place in case something happens to them while on campus. What if you are in a car accident, leading into a coma? What happens if you can no longer take...
Suddenly incapacitated? Have these documents in your estate plan
No one knows when an accident or illness may result in them being incapacitated. Incapacitation can be temporary, such as if you’re unconscious during surgery or you were placed into a medically induced coma after a crash. It can also be more permanent, such as if you...
Why might probate take longer than you think?
When an estate passes through probate, it offers security, helping your family feel everything has been handled correctly as the deceased intended. Yet, some people prefer to avoid it because it can cause delays to the distribution of the estate. How someone creates...