A revocable living trust may be more beneficial than probate
As individuals begin to think about transferring assets upon death, many questions arise regarding the best way in which to do this. Many Nevada residents recognize the need to make these decisions; however, there is often confusion surrounding which way would be most...
Trust planning can avoid problems in transferring assets
As a person ages, it is likely that he or she will begin to think about how they want their assets distributed upon their death. It is fairly safe to assume that the typical Nevada resident would prefer to decide who will receive a portion of their assets rather than...
A funeral trust gives testator control and family time to grieve
A trust is one of the most flexible estate planning tools available. Do you want to make sure your dog is taken care of after your death? Do you need to set money aside to support a child with special needs? Do you want to avoid taxes on large bequests to charities?...
Use of out-of-state trusts to reduce tax burdens
While many Americans take advantage of states with no income taxes (like Nevada), the placing of financial assets into trusts is gaining scrutiny from officials in other states. For example, individuals who are in the process of selling a company may move shares...
Surtax imposed on investment income of trusts and estates
There is a new 3.8 percent federal tax that will be imposed upon net investment income from trusts and estates. The tax will be applicable to these trusts and estates if the gross income exceeds $11,950. While the law actually became effective January 1,...
Specialized domestic trusts can function like offshore accounts
As many Las Vegas residents know, planning and organizing your estate is not exactly a "fun" thing to do; nor is it the most straightforward process. There are many tough decisions that people need to make, and they need to think deeply about all of these decisions....