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Most people in the United States do not have an estate plan, but the ones that do typically only have a last will and testament. A will does not bypass the probate process, meaning it cannot transfer assets to beneficiaries without going through probate. The first...
Asset identification and recovery is a crucial step in an estate’s administration. Before probate progresses, the executor or administrator must account for all assets. However, when the deceased has multiple assets, some of which they did not make known during their...
Finalizing probate matters after a family member's death could be overwhelming. In addition to going through the necessary procedures, the family must deal with the grief and stress caused by the tragic loss. Still, the probate process is essential when dealing with...
Establishing a trust is a solid way to approach estate planning. It is a formal and lawful document that enables your beneficiaries to legally inherit your assets and properties. However, trusts are not free from problems. Beneficiaries and would-be beneficiaries can...
When you pass away, your estate will have to go through probate. Basically, this is the process of winding up your estate and distributing your assets according to the stipulations in your will or Nevada intestacy laws if died without a will. Probate is generally a...
The executor or personal representative of an estate is someone in a position of authority, even if it is only temporary. They have the authority to distribute property from the estate and to resolve someone's outstanding obligation. They file tax paperwork, close...
No one wants to think about death, but it's a reality we all must face. And after we die, our estate will go through probate, a lengthy and expensive process for your loved ones who are grieving their loss. Probate is a court-supervised process for validating a will...
You’ve given your children every advantage, and they’ve become successful, independent adults. So as you’re establishing your estate plan, you decide to focus on responsibly sharing your wealth with your grandchildren. There are numerous ways to do that, but trusts...
You were concerned that an elderly relative had not tackled their estate plan, so you discussed it with them a few years ago. As a result, they drafted a will and set up other plans to ensure that their final wishes were in place should something happen to them. ...
You live in Nevada, but you vacation in Florida – and, occasionally, you visit the old family cabin in upstate New York. Your Nevada home, Florida condo and the cabin in New York are all part of the wealth that you’ve accumulated over the years and hope to pass on to...