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Some Nevada residents who are creating an estate plan may be interested in a spendthrift trust. This trust is usually used to protect a beneficiary who is unlikely to be able to manage money responsibly. It might also protect assets from creditors and in the event of...
Nevada lawyers with experience in estate planning draft wills, trusts and powers of attorney for their clients, but there is one very important document that is not written by an attorney. Letters of final wishes have no legal standing and do not influence how assets...
Nevada residents may know that a trust may be an effective estate planning tool. However, the trust doesn't work as intended unless it is properly funded. Assets that were meant to go into that trust may need to be looked at to determine how they were owned and by...
Nevada residents whose estates are large enough to worry about federal estate tax will probably want to review their estate plan if there is an estate tax repeal. For most people who expect to owe estate tax, devising ways to reduce the value of the estate and bring...
Nevada residents who are concerned about how they might pay for their funeral may want to consider a funeral trust. Planning a funeral ahead of time may help relieve loved of having to make difficult decisions while they are also dealing with grief. A funeral trust...
Nevada residents who are creating an estate plan may want to consider an estate analysis and a settlement cost analysis. The former reviews the current arrangements to make sure they are consistent and effective. For example, an estate analysis could reveal that a...
Recent studies indicate that as many as 60 percent of individuals who are nearing the age of retirement don't have a will in place. Perhaps you have loved ones that you wish to provide for in the event of your death, but you haven't found time to write a will. Maybe...
When an individual passes in Nevada, the executor of the estate should determine if that person's estate has any outstanding debt balances. From there, the executor must decide when and how to pay them. It may also be necessary to contact creditors to tell them about...
Nevada residents who are creating an estate plan may want to include a trust as part of it. However, in choosing someone to act as trustee, they might also wonder what duties that person is expected to perform. Trustees are not expected to be a financial expert, but...
Many Nevada residents who have substantial assets to pass to their children or grandchildren should be aware of what steps to take to ensure that their wealth is allocated in the manner they prefer. It may be beneficial for individuals to have a financial advisor work...
