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Wills Archives

How living wills benefit all adults

Nevada residents and those living throughout the country can benefit from having a living will. This is true regardless of how old a person in. Younger adults could suffer mental or physical injuries in an accident, and having a proxy could make it easier to get the level of care that they want. Those who are diagnosed with a serious illness may want to create or adjust their living wills.

How to avoid common estate plan issues

Nevada residents who are fans of Stan Lee may still be mourning his death. However, there are estate planning lessons that can be learned from his passing. The first lesson is that an estate plan needs to be reviewed as a person ages. Another lesson is that it is important to choose the right people to carry out various roles, such as power of attorney.

Everyone needs a will

Perhaps it is the acknowledgment of mortality that prevents many people in Nevada from taking the time to create an estate plan or simply procrastination. Whatever the reason, having a plan in place provides security and protection for one's family and provides peace of mind for the individual. There are a number of different and distinct documents that should be in most everyone's estate plan, and a will is a basic one and a good starting point for the neophyte.

Including pets in an estate plan

People in Nevada who are creating an estate plan might be concerned about what will become of their assets after their death and ensuring that their children and other family members are taken care of. However, if they have beloved pets, they may also want to make sure they are cared for as well.

Digital assets in an estate plan

Like most states, Nevada has a law in place that allows executors to manage digital assets just as they would manage more traditional assets, but people who are creating an estate plan with digital assets still have to make the right legal and technical arrangements.

What to know about inheriting timeshares

While timeshares may be attractive to some, future generations may not want to inherit the cost associated with them. However, there are ways that Nevada residents and others can avoid taking them over after a parent or other family member passes on. One option is to create a trust. By putting an asset in a trust, a creditor has limited recourse to go after an individual directly.

Creating a will that won't trigger conflict

Unfortunately, many wills lead to conflicts among heirs. One of the best ways for Nevada estate owners to prevent such issues is to select a reliable executor. The person who is chosen has to be able to bear the responsibility of administering an estate, must be organized and must have ethics.

Estate planning beyond the will

Nevada residents who are creating an estate plan may think that they only need to create a will. However, addressing other details may help reduce family conflict and can help ensure that other important elements are not forgotten.

How to manage estate plans in a blended family

Parents in Nevada who are about to get married again may have a challenging estate planning dilemma to solve. If an estate plan is not created properly, the children from the previous marriage could get nothing. Meanwhile, the new spouse could receive all of an individual's property when he or she passes. While assets could be transferred from the surviving spouse to the children, there is no guarantee that this would happen.

Millennials largely don't have wills yet

A recent survey published by Caring.com says 78 percent of Millennials don't have wills. Talking about death can make people uncomfortable, but people in Nevada who die without a will can cause problems for their loved ones. A simple will sets forth how a person, called the testator, wants his or her assets distributed after death. It names an executor to oversee the process and make sure the transfers are done. Having a will can simplify the process even for people who would leave everything to their parents at this point.