Estate planning is for every Nevada resident
Wills, probate, power of attorney, medical directives, trusts and the list goes on and on. The words are familiar; however, the exact definitions may not be. Many throughout Nevada do not recognize the importance of each of these items as individual pieces and then as...
Nevada homeowners over the age of 62 may be able to take advantage of a reverse mortgage to help fund end-of-life needs without giving up a home. According to recent reports, as such action is growing in popularity among seniors, confusion about reverse mortgage terms...
Appointing a financial power of attorney may be an important aspect of late life, even if you have a financial adviser or other professional money-management assistance. Choosing a financial power of attorney early in life provides peace of mind that you and your...
What you need to know about tax laws and estate planning
As Nevada readers are well aware, estate planning can be a rather complicated process. Further complicating this process are new tax laws that have been changed, updated and reworded multiple times since 2001. After many of these changes were finalized in 2013, estate...
The estate planning process can lead to questions
On any given day in Nevada, babies are born, couples get married and individuals take their final breath. While two of these events are often joyous occasions, many do not like to dwell on the certainty of death in the future. All three of these events typically...
Men and women in the early years of having children, establishing comfortable livelihoods and acquiring homes likely don't give much thought to dying. It may be that they don't yet have a lot of wealth, so asset distribution and complex estate matters aren't...
Once the grief and emotional strain lessens, young adult beneficiaries of a parent's estate will face many decisions. Whether families in Nevada enjoy substantial wealth or maintain the average funding of an individual retirement account, experts suggest using trusts...
Estate planning in Nevada involves more that just money
An important part of estate planning that is often overlooked by Nevada residents is planning the division of their personal possessions as paintings, ornaments, crockery and other heirlooms. Conflict often arises between children after the death of a parent, and it...
Residents of Clark, Nevada, who don't have assets totaling over $5.25 million -- or $10.5 million for a couple -- may not see any benefits in including trusts in estate planning. Federal estate taxes kick in after those amounts, and trusts protect assets from taxes....
Nevada residents of any income level or situation should consider future financial status. For elderly residents, financial considerations may be divided between handling current needs and assuring legacies are secured for heirs through estate administration....