A trust can be based on age
When many people create trusts, they are based on a specific type of use. For example, an educational trust can pay for someone’s college tuition. A special needs trust can help support an heir that has special needs without disqualifying them from the government...
How do you know when it’s time to update your will?
We all know that we should have a will in place. It’s a way of making sure your loved ones receive the inheritance that you’ve worked so hard to build for them throughout your lifetime. You also want to make sure that the process of handling your estate after you pass...
5 common mistakes to avoid when making an estate plan
It’s ideal for you to create an estate plan so you can financially support your loved ones upon your passing. With that said, estate planning is something that requires great care. Unfortunately, some people make mistakes when establishing their estate plans. Below...
What can’t I include in my estate plan?
Your estate plan might consist solely of a will or may include numerous other documents including trusts and powers of attorney. Every individual's unique legacy wishes and personal circumstances will dictate the use of different documents for estate planning...
The best tip for bringing up estate planning
It can often be difficult to talk to your parents about estate planning. You may be worried that they haven’t created a plan. You may be concerned that this will cause disputes between you and your siblings, or just that the process will be longer and more confusing....
3 things to consider when making your advance directive
Many people have strong beliefs about health care choices. They know what they want and what they don’t want. It might be easy enough for you to relay those wishes now but you should consider what will happen if you become incapacitated and can’t speak up for...
2 concerns for real estate during Nevada probate proceedings
When someone dies in Nevada, almost all of their personal property will become part of their estate. Some assets, such as bank accounts with a transfer on death designations, won't need to pass through probate court. However, many belongings will require probate...
3 kinds of taxes you may need to file during probate proceedings
As the personal representative of an estate in Nevada, you have a lot of responsibilities. If you don't fulfill those obligations, you could face challenges in probate court or possibly personal liability. For example, you have to locate and protect the property owned...
What taxes may need to be paid after someone dies?
As the executor of an estate in Nevada, you have a lot of responsibilities. If you don't fulfill those obligations, you could face challenges in probate court or possibly personal liability. For example, you have to locate and protect the property owned by the...
How can spending your money help you get free healthcare?
Once you have a certain amount of money in your accounts, you become eligible to pay all your own healthcare costs. If you can show that you only have a low amount of funds, you may be entitled to free healthcare via the Medicaid system. It exists to help people...