When was the last time you updated your estate plan?
Creating a will is one of the best steps any Nevada resident can take to ensure that surviving family members understand certain end-of-life wishes. Of course, this and other estate planning documents are only helpful if the information in them is up-to-date and...
Who will raise your child if you pass away?
New parents here in Las Vegas and elsewhere often anxiously and excitedly await the newest additions to their families. Perhaps you are one of them. During this time, there is often a flurry of buying. Diaper genies, baby bathtubs, diapers and everything else a baby...
The influence of step-up in cost basis on inheritance
People inheriting various assets in Nevada could enjoy certain tax advantages due to the concept known as step-up in cost basis. This term refers to an asset's increase in value while someone possesses it. A person who buys a stock for $2 a share and then sells it...
Pro and cons of online estate planning documents
An estate plan is a crucial tool for individuals who want to have control over what happens to their assets if they become incapacitated or die. Without at least a will, financial power of attorney and advance health care directive, Nevada probate courts will make...
When can the executor use estate funds for expenses?
Closing a Nevada estate is not an easy task. In a best-case scenario, someone with financial and legal knowledge would handle probate proceedings and would gladly accept the role well before the time came to act. Of course, that is not always how the situation works...
How to handle direct inheritances to minors
Not everyone in Nevada takes the proper steps to ensure that an estate plan is correct, if one even exists. In these instances, it is entirely possible that a minor child could end up inheriting property.While there is nothing wrong with a minor receiving an...
Events that should trigger a review of estate plans
Nevada residents typically feel relief and satisfaction when they complete their estate plans. These important decisions and documentation, however, might not meet their needs forever. Changing circumstances and life events could make portions of an estate plan...
The multiple benefits of an estate plan
Nevada residents and others who are looking to obtain control over assets or their medical care can benefit from having an estate plan. A living will determines how assets should be used to assist an individual who has been incapacitated. It can also determine how to...
How to account for digital assets in an estate plan
As more assets are being held or stored online, it can create challenges for Nevada residents when it comes to estate planning. For example, an individual must remember to divulge the username and password of any account that is held online. Furthermore, there may be...
How wills factor into an estate plan
Nevada residents may have a will that plays a role in determining where their assets go after they pass. However, a will by itself is not necessarily an estate plan. The estate plan is everything that a person does to manage their assets now and in the future. It can...