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...
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...
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...
Passing your values on
Many people living in Nevada are well aware of the importance of estate planning. These individuals often take steps to write and update wills, designate beneficiaries on their insurance policies and retirement accounts and craft extensive end-of-life directives....
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...
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...
The importance of passing on knowledge
Nevada residents may be able to learn a lesson from the play "The Summoning of Everyman." It is an allegory about humanity and how the only thing a person has left when he or she dies is that person's good deeds. When it comes to estate planning, the lesson from this...