Using a trust in an estate plan
Estate plans are not just for people that have substantial wealth. Nevada residents that have any type of assets should have an estate plan in place to ensure that their possessions will be disbursed according to their wishes when they are gone. A well-designed estate...
Estate planning and types of trusts
Trusts are a commonly used tool in estate planning. There are many types of trusts Nevada residents may choose from when they are evaluating their estate planning options.A qualified domestic trust may be used when the trustee is a United States citizen, and his or...
Estate planning and divorce
When couples in Nevada decide to divorce, they are often concerned with immediate issues such as child custody, support payments and the division of assets. One area that may be overlooked is that of estate planning. It is essential that couples review their estate...
Complex circumstances require careful will planning
Many Nevada residents assume their estate plan will be a straightforward one. While this is often true for individuals with modest assets and an uncomplicated family life, people who have been married more than once, who own a business or who have significant assets...
Planned giving as part of an estate plan
Nevada residents who want to reduce the financial burden on their loved ones after their death may want to consider gifting some of their assets. Planned giving can be included in an estate plan and can provide advantages for the donor and the beneficiaries.Planned...
Estate planning and fiduciary responsibility
When Nevada residents create a trust, one or more individuals will be appointed to have some fiduciary responsibility. It is important for a person who has been appointed a trustee or who has other fiduciary duties connected with an estate to fully understand those...
Important aspects of estate planning
It may be particularly important for women in Nevada to ensure that their estate plan is in order since women often live longer than men and may outlive their husbands. Women should make sure that there is adequate life insurance for them to cover expenses if their...
Pitfalls of do-it-yourself estate planning
People in Nevada who are creating an estate plan may wonder whether they can simply use a do-it-yourself will. However, there are a number of potential disadvantages to this approach.One downside is that a do-it-yourself estate plan might be more likely to contain...
Estate plans for all income levels
Some people in Nevada may think that the word "estate" in "estate planning" implies that a person needs to be wealthy in order to have an estate plan. However, an estate plan is important for all adults regardless of their income or assets. All estate plans are...
Advantages of using an attorney instead of DIY estate planning
You understand the importance of making final arrangements for your estate, and online companies that offer do-it-yourself will or trust creation might appear tempting. Working directly with an attorney, however, could offer you many advantages, staring with personal...