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A person in Nevada who is creating an estate plan may want to include a power of attorney that gives someone the ability to take over financial transactions and decision-making if the person becomes incapacitated. Most people who have power of attorney understand that...
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...
Nevada residents and others who are creating an estate plan are encouraged to do so with the help of an estate planning professional. Using template forms when making a will can lead to a variety of unintended consequences. For instance, a template might not contain a...
A trust protector may allow parents in Nevada and other states to guard against their children losing some or all of their inheritances. This legal tool can also be used to protect anyone else who may be a beneficiary or trustee. In an example, a parent has placed an...
Some people in Nevada may think they do not need an estate plan because they are too young or have few assets, but adults of every age could benefit from having one. Over the years, needs vary, and people may need to revise the documents.A person who is still in...
People often procrastinate about estate planning. It can be difficult to think about death although it may become more prominent in people's minds after the death of a celebrity. For example, Nevada fans of basketball star Kobe Bryant might have thought about what...
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...
Most parents would probably agree that seeing their children come into their own is a bittersweet experience. Like them, you may miss those times when your child would cuddle up with you on the couch and loved you unconditionally, especially if you now have a strained...
Many people in Nevada find that trusts are very helpful to their estate planning process. The additional privacy, flexibility and control provided by these options mean that they can be valuable tools in distributing assets after a person passes away. Still, people...
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...
