Remarriage threatens estate planning
When a person decides to get remarried in Nevada, they seldom consider the potential effect that this decision can have on their estate plan. However, it is not uncommon for heirs and new spouses to be at odds when it comes time to read the will. Family members may be...
Tips to avoid mismanaging an inheritance
People in Nevada who inherit large sums of money may end up squandering their newfound wealth. A Williams Group study determined that 70 percent of wealthy families do not maintain their wealth into the second generation. The same study showed that 90 percent of those...
Preventing estate battles over tangible items
It's not uncommon for Nevada families to fight over a deceased parent's personal property. While bitter disputes over multi-million-dollar fortunes are usually the kind of estate battles that make the news, the majority of estate battles involve valueless objects....
Estate planning tools 101: FAQs about intra-family loans
There are a number of legal tools that can be used to put together an effective estate plan. This is especially true when you keep in mind that estate planning is about more than just transferring assets, it's about wealth management. One tool that can be beneficial...
Estate disputes following death can be curbed with good planning
Music fans in Las Vegas and throughout the world mourned the untimely death of iconic singer Prince earlier in 2016, but many may not be aware that his estate is now in limbo. The musician reportedly did not have a will in place when he died, making the distribution...
How to handle an executor who breaches his or her duties
Often when a loved one dies, family members squabble over the details of the will. In some cases, the person who has been named the executor may cause contention. Nevada residents might be interested in reading about the responsibilities of an executor, and how to...
Making sure that a person’s final wishes are honored
Nevadans with blended families may have questions about how to protect their assets when they die. These concerns can be particularly strong if both spouses have kids from prior marriages. There are several ways a person can help to make sure that his or her spouse...
Deciding whether a trust should be part of an estate plan
Nevada residents who have given any thought to their estate plan are probably aware that they need to have a will. A last will and testament is a basic estate planning document that everyone should have. Depending on the size of a person's estate and the needs of...
Questions to ask before leaving a vacation home to heirs
Nevada residents who are lucky enough to own a vacation home may want to leave the house to family members in their will so that future generations can enjoy it. Before deciding how to handle an asset like a vacation home in an estate plan, there are some key...
Beneficiary details matter
Experts recommend regular reviews of estate planning details, which should include an evaluation of beneficiary designations on retirement accounts as well as insurance policies. A Nevada resident who neglects this could leave certain assets vulnerable to loss based...