Trusts

The start of a new year may be a good time for Nevada residents and others to review their estate plans. In 2020, there will be a presidential election, and shifts in political philosophy could have tax and other estate planning consequences. For instance, some...

Business owners in Nevada and throughout the country will ideally take the task of estate planning seriously. Doing so may help to ensure that a company is successful after the original owner no longer owns or operates it. While many people wait until later in life to...

In 2019, the federal estate tax exemption was $11.4 million. In 2018, there were only 1,900 families that were subject to this tax, which means that it has become less of an issue for most people who are creating their estate plans. Typically, Nevada residents and...

Nevada families may struggle to talk about estate planning, but it is an important conversation to have. Often, these discussions only occur in the middle of health crises. A better approach is to talk about it early. This can be done with a financial or legal...

Many people in Nevada know that establishing a trust can be an important part of estate planning that provides greater privacy and flexibility. However, they may wonder if there are benefits to establishing more than one trust to cover different types of property....

Many families have dysfunctional dynamics that can make estate planning difficult, and in families with high net worth, the stakes can be particularly high. However, the basic advice that experts give for high net worth families can apply to most other situations...

Trusts can be an important and useful part of a Nevada estate plan, but there are some circumstances under which a person may want to revoke a trust. If the trust is irrevocable, that can be a complicated process. To revoke a revocable trust, though, the person should...

Parents in Nevada and throughout the country may be tasked with raising children who have a mental or physical disability. These disabilities may make it difficult or impossible for children to provide for themselves when they are older. One way that parents can...

Many Nevada residents may have prepared an estate plan at some point in their lives and assumed that is sufficient, but this is not always the case. Estate plans can often be improved or may need changes over time. For example, people may not have life insurance...

The last thing that most Nevada families want to do is sit around the dinner table discussing an estate plan or trusts. No one likes to think of their inevitable mortality. However, having the right plan in place can be a huge blessing during a time of extreme...