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Estate Planning Article
Common estate planning errors include going without a plan, failing to keep a plan current, choosing inadvisable fiduciaries and overlooking contingencies. Estate planning can offer many benefits for people in Las Vegas, including preventing probate and minimizing the loss of personal assets to taxes. Unfortunately, many people may miss out on these gains as a...
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These frequently asked questions about estate planning could address some of your concerns about this important process. When it comes to estate planning, most people have questions. Some may wonder if it’s necessary at all, particularly if they have a more modest estate, while others may be unsure about what options there are to meet...
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It is helpful to understand the difference between the two classes of assets and how they are distributed when putting together your estate plan. If you have gone through the estate planning process, you may assume that your will would control the distribution of all your property. In reality, you own two types of property:...
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Individuals need to understand how important it is for them to have the assistance of an attorney in creating a comprehensive estate plan. Estate planning is an area of the law that many people find to be somewhat intimidating. They may have several questions about what they need to do, but they are uncomfortable thinking...
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When a loved one has a disability, a special needs trust can provide for services and care without affecting benefit eligibility. When you raise and care for a child with special needs, your biggest worry is probably what happens once you are gone. The Census Bureau reports that 56 million Americans have some form of...
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Making the decision to divorce and going through the divorce process is never easy. Most people just want it all to be done and over with quickly so they can get on with their lives. Unfortunately, many fail to take the final, necessary step before riding off into the sunset; updating their estate plans. There...
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Despite the economic roller coaster ride the U.S. economy has endured over the past number of years, ours is a wealthy nation. As family members pass on to their great reward, each year future generations stand to inherit more than $1 trillion from parents, grandparents or other relatives. Unfortunately, as wealth transfers from one generation...
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When most people think about estate planning, they often think about drafting a will to ensure that specific property will go to a specific person. They may also make arrangements for the care of their children, and also discuss the type of health care that they are to receive should they become incapacitated. While a...
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A will is an essential component of any estate plan. Wills help communicate a loved one’s wishes for how his or her property will be distributed after he or she passes away. Since wills are such an important part of an estate plan, anyone thinking about composing a will should consult an experienced estate planning...
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The aging population of the United States and the changing makeup of the modern American family have led to new considerations and challenges when it comes to creating an estate plan in Nevada. Adults considering creating a will may feel constrained by the planning preferences of second or third spouses and stepchildren while at the...
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A requirement of any good estate plan includes creating a living will, also known as an advance directive or health care directive. Unlike a traditional will or trust that bequeaths assets to beneficiaries, a living will is a legal document sets out your wishes for health care in the event you are incapacitated and cannot...
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Many young professionals enter their careers and begin to build wealth without giving much thought to estate planning, life insurance and other long-term financial products and services. Yet, when a child enters the picture, they realize that they need to start planning for their financial future. Common among young parents today is large amounts of...
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Those with enough income for a comfortable, even somewhat luxurious, lifestyle, often fail to plan ahead and create an estate plan while working. Unfortunately, this puts their assets at risk. Heirs to a large estate will have no tax planning or other protections on their inheritance if their loved ones do not take the proper...
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