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Some people in Nevada may think that the word "estate" in "estate planning" implies that a person needs to be wealthy in order to have an estate plan. However, an estate plan is important for all adults regardless of their income or assets. All estate plans are...
When Nevada residents begin the estate planning process, they are often concerned with ensuring that their assets are fairly distributed to their children and loved ones. Another consideration, however, is less obvious, and that is how to make the executor's job...
With rising estate tax and gift tax exemptions, the qualified personal residence trust is less common than it once was, but some people in Nevada still have a QPRT as part of an estate plan. With a QPRT, the owner transfers ownership in the home to a beneficiary but...
Nevada residents who have created an estate plan may not have taken beneficiary designations into account. These forms may have been filled out along with a lot of employment paperwork, and people could forget about it. Therefore, beneficiary designations may need...
You understand the importance of making final arrangements for your estate, and online companies that offer do-it-yourself will or trust creation might appear tempting. Working directly with an attorney, however, could offer you many advantages, staring with personal...
Protecting your assets is a critical effort, both for your protection now and in the years to come. While it is impossible to predict the future, you may feel that a divorce could be a major threat to your financial future. Fortunately, with a strong estate plan and...
People in Nevada can use irrevocable trusts keep control of assets that have been intended for their loved ones. Irrevocable trusts offer multiple advantages, such as tax savings, and may be more beneficial to use than revocable trusts or wills. It's important to note...
Nevada residents are not required to have a licensed attorney draft their will. However, for people who choose to write their own, they should take care to avoid certain mistakes. When a will is drafted, it should include a family tree with the names of living and...
Unmarried couples in Nevada and throughout the United States might not prioritize estate planning. The most common reasons people give for not doing so is not having children and not being married. It turns out that estate planning is just as important for people who...
A charitable split-interest trust is one way that Nevada residents can donate to charity as well as providing an income for beneficiaries. These types of trusts have several other advantages as well. They can create income from properties that are not profitable...
