Trusts

Parents of adult children in Nevada who have significant assets might wonder what they should do with their assets in an estate plan to protect them for their children. An example might be a couple who has about $1.5 million in assets and no debt, including no...

Nevada residents may benefit from using a trust as part of their estate plans. However, determining what type of trust to have is just one issue that they will need to contend with. It is also important to spend time thinking about who would be the best fit to act as...

The 2020 presidential election could have implications for Nevada residents and others who currently have estate plans. For instance, if Elizabeth Warren or Bernie Sanders become president, there could be a reduction in the gift tax exemption or the estate tax...

Nontraditional family structures, such as blended families, are on the rise, and these families need estate planning just like everyone else does. However, estate planning advice is often written for more traditional families, even though these types of families are...

People living in Nevada may inadvertently create problems for their heirs through poor estate planning. While estate planning mistakes can take many forms, one of the most common involves beneficiary designations. Designating beneficiaries of life insurance policies,...

Nevada residents who are expecting to receive an inheritance after getting married have ways to protect that money. One option could be to put the cash into a trust. The language of the document could stipulate that the money is to be for the benefit of a child or...

Trusts can be an important part of estate planning, helping Nevada residents to achieve their goals with a higher level of customization, control and privacy. However, flexibility can also be an important part of a trust. Tax laws and inheritance laws can change over...

Trusts can be an important part of estate planning for many people in Nevada. These instruments allow people to pass on important belongings and assets with a higher level of privacy. They also offer a greater amount of discretion and control. A revocable trust can be...

When Nevada residents are planning their estate, they might first think about how they can provide for their children or a favored charity. However, for many people, pets are a beloved part of their lives, as close as a family member and with no ability to provide for...

The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 likely changes the tax treatment of inherited IRA accounts. The legislation was approved in the House and will likely be approved in the Senate as well. Previously, Nevada residents could...