How to create an estate plan for digital assets
Some people in Nevada who are creating an estate plan might primarily think about their assets as things like bank and investment accounts and real estate. They might not consider the large role that digital assets play in their lives. Digital assets may include...
Mistakes to avoid in estate planning
Nevada residents should be aware of a few common mistakes in estate planning. One of those errors is not having the minimum components of a plan. For example, many advisers recommend having at least a will and powers of attorney that appoints someone to handle...
The role of a will in an estate plan
Nevada residents may be able to achieve their estate planning goals with just a will. However, for many, wills represent the first step of creating an estate plan that truly meets a person's needs. To transfer assets to beneficiaries in a timely manner, an individual...
How the estate tax exemption may affect estate planning
People in Nevada might want to take another look at their estate planning after the passage of the tax bill at the end of 2017. This bill raises the estate tax exemption for individuals to more than $11 million and for couples to more than $22 million. This means that...
Estate planning can be critical for business futures
Business owners in Nevada may be aware of the importance of estate planning for their personal belongings and properties. However, estate planning can be just as important to protect the longevity and well-being of a business. When the principal of a business passes...
Problems that arise in estate planning with blended families
Disputes over estate plans may be more likely to happen among blended families in Nevada than in families in which there are not stepchild and stepparent relationships. These disputes may be more common in families with stepmothers, in part because women are more...
Bitcoin and digital assets affect estate planning
The potential of bitcoins to store value has caught the attention of some investors in Nevada. As a digital asset with a private password, it requires special attention when someone wants to pass the asset to another party. Estate plans also need to formally address...
Estate planning and passing assets to loved ones
Some Nevada residents might think they do not need to do any estate planning because they are not wealthy. However, it is important for all adults. Without proper planning, fees and court costs can consume assets, and without a plan, the state decides what happens to...
Estate plans that prepare for incapacity
Some married people in Nevada might think they have a well-prepared estate plan when they own a home in joint tenancy with survivorship. They might have a similar arrangement for other assets such as a retirement fund and some investments.The problem with this...
Legacies in an estate plan
Some people in Nevada who are creating an estate plan may think mainly in terms of financial assets. However, this is only one part of what a person could pass on to loved ones. People also have legacies, which consist of things such as family traditions, beliefs,...