4 things to know before writing your will in Nevada
Writing a will is one of the most important things you will do in your life to ensure your loved ones are taken care of if you should pass away. In Nevada, if you pass away without a will, then the state will be forced to implement intestate succession laws. That...
Know these terms when you’re creating an estate plan
A person who’s creating an initial estate plan needs to ensure that it meets their current needs. As you’re working to get everything in order you’ll come across some very specific terms. Learning some of the more common terms can help you to understand things. Even...
Estate planning is especially important for unmarried couples
Are you in a long-term relationship with a partner that you expect will continue, perhaps for the rest of your lives? You may feel, as many couples do, that there’s no reason to get married. However, without that state-sanctioned marriage and the associated rights...
The 5 biggest celebrity estate planning disasters
Celebrities may seem larger than life, but they’re not above making mistakes that impact their loved ones after they pass away. There have been dozens of celebrities who have passed without good estate plans in place, and the issues that arose as a result flooded the...
Powers of attorney: What you should know when making your estate plans
Many people haven’t ever thought about what would happen if they become incapacitated, but this is something that deserves consideration. If you’re incapacitated, you’ll need someone who can pay your bills for you. You may also need someone to make health care...
Will I be reimbursed for executing an estate?
Executing an estate can take a considerable amount of your time. If you live out of the area, it will also require significant travel expenses. While you may consider it an honor when someone asks you to execute their estate, you may prefer to spend your time and...
Dealing with a house in probate
If you are the executor of an estate, what must you know about real estate and probate of the estate? Much depends on whether the decedent had the foresight to place the property into a joint tenancy or a trust. Failing that, there are some specific steps to take in...
What does it mean to fund a trust?
A trust is an estate planning tool that makes it easier for you to pass assets down to your heirs. When you create a trust, you can place stipulations on who will receive the assets and when they will get them. One thing that you must remember, however, is that trusts...
How should you fund your living trust?
Many individuals assume that you need to have significant wealth to fund a trust. While that may be the case with some trusts, that's unnecessary if you plan to set up a living trust. Several factors may motivate an individual to set up a revocable trust. You may want...
What happens if someone dies with their estate in the red?
Executing an estate is challenging, but you get the satisfaction of seeing assets pass from one generation to the next. If you are one of those receiving assets, so much the better. Yet, what happens if you discover the person who died had nothing left to give? An...