Seeking advice on what a trust has to offer
Finding ways to protect and properly manage their assets is a goal for many individuals in Nevada and across the nation. While in many cases, estate planning options such as a trust could prove helpful in achieving this goal, some individuals might not be aware of...
The uses of trusts and trust modifications
People in Nevada who are creating an estate plan may want to include a trust as part of it. A trust may be revocable or irrevocable. The former can be changed by the creator, also known as the settlor. The latter usually cannot. Irrevocable trusts remove assets from...
Estate planning for childless couples
It isn't uncommon for couples in Nevada and elsewhere to refrain from having children. This may be because they are worried about their parenting skills, focused on professional pursuits or they simply prefer not to have children. However, it is still important for...
How a trust and a will could complement each other
Individuals in Nevada who currently have a will might also benefit from having a trust. A will allows a person to dictate where assets go after he or she passes on. It may also be possible for an individual to name a guardian for a child and take other estate planning...
Trust planning for educational expenses
Some Nevada residents may be interested in creating a trust as part of their estate planning process, especially because of the greater level of flexibility, privacy and control that it offers. Each trust has beneficiaries but also a trustee who makes decisions about...
How to show love through an estate plan
Individuals in Nevada and throughout the country can show how much they love their families by creating estate plans. A will can be an effective tool to transfer assets directly to a spouse, child or other relatives after an individual passes. It can also be possible...
Estate planning changes after divorce later in life
In Nevada and across the country, a growing number of Americans are deciding to divorce later in life. While overall divorce rates have gone down, the divorce rate for people aged 50 and up actually doubled between 1990 and 2010, a trend that shows no sign of...
How the SECURE Act could affect estate plans
Many people in Nevada include their retirement accounts as part of their overall estate plan. In the past, people often planned that the named beneficiary on their individual retirement account, or IRA, could take the distributions from the plan over their entire...
How to correct estate planning problems
Changes to the tax law or other events that happen during a person's life may cause estate planning problems. For instance, a trust may become obsolete because of a change to the tax code or because it fails to provide for a newborn child. If an irrevocable trust does...
An overview of irrevocable trusts
Nevada residents may be interested in using an irrevocable trust as part of their estate plans. An irrevocable trust is one that generally cannot be modified without the consent of all of its beneficiaries. Once an item is transferred to the trust, the trust obtains...