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How can an executor protect a deceased loved one's assets?

Acting as an estate executor is an immense responsibility. While a loved one may ask you to take on this role in hopes that you will feel honored and trusted, you could find yourself feeling overwhelmed and stressed when the time comes to carry out the necessary duties. When you accepted the position of executor, you may not have fully realized the extent of the role and the tasks you would need to address.

Dealing with debt as an estate executor

You may have felt honored and flattered when a loved one asked you to be the executor of his or her estate. Perhaps you had visions of being the person who delights the beneficiaries of the deceased by announcing what each would inherit. Since your loved one has passed away, you may have quickly realized that there is little of that glory in the duties of an estate executor.

Your estate plan could help surviving family avoid issues

Over the years, you may have had many people come into your life whom you care about immensely. Though some of those individuals may no longer be in your life, you undoubtedly still have loved ones you hold dear. Your spouse, children, siblings, parents and other close parties may allow you to feel a sense of connection and joy in your life.

Probate assets could impact how you plan

As you consider moving forward with estate planning, you may find yourself in need of various information. You may have questions regarding certain types of planning tools, what information you can include in your plan and how the details of your estate could impact the planning process. Your assets in particular could play an important role in determining how you could create the best plan for your circumstances.

Updating your estate plan after divorce may prove wise

During your marriage, you may have expected your spouse to stick with you until the end. As a result, many decisions made during your estate planning process may have hinged on your spouse acting as beneficiary to your property or as agent in decision-making capacities. These roles have great importance, and you undoubtedly wanted to make sure that your trusted spouse took on those positions.

Mistakes with your estate plan can cost you more than money

Nevada readers know that estate planning is smart for everyone, but sometimes, common mistakes can complicate estate-planning efforts. Simply having a will in place may not be enough to protect yourself and your family in case of a contingency. It is prudent to know how to avoid mistakes and missteps, allowing you to potentially avoid complications in the future. 

How long will probate take?

After the death of a loved one, you may feel like matters go very quickly. Before you know it, relatives arrive, you discuss arrangements, and suddenly you are sitting at a funeral service thinking that you were talking with your departed parent or grandparent just days ago. At the end of the day, it may seem like everything is over. However, probate is just beginning.

Does your trust-based estate plan need a pour-over will?

After looking over the various estate planning options available to you, you may have decided that a trust-based plan would best suit your needs. Many Nevada residents often come to this decision as trusts can offer a variety of protections for your property while also allowing surviving family members to avoid probate, if the proper steps are taken to do so. Plus, this tool could also help you better dictate how your assets should be handled after your death.