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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...
If you have a will, your estate will have to go through probate before being distributed to your heirs. It is a court-controlled process that involves verifying the validity of your will, identifying the estate’s assets, and paying taxes and creditors before dividing...
Creating an estate plan gives you the opportunity to care for your family members after your death. You can outline the plan using a variety of tools. Some people use the will, but that’s not the only option you have to pass assets down. You can also establish...
Your estate plan or will gives your loved ones information about your last wishes. It allows them to receive some of your property and to take certain actions on your behalf. Sometimes, the beneficiaries of an estate are unhappy with what they receive. Other times,...
You may already have an arsenal of tools in your Las Vegas estate plan, each of them protecting you, your family and your assets. However, it never hurts to do even more to strengthen your overall protection. An irrevocable life insurance trust (ILIT)is one way to...
Estate administration is a lengthy and demanding process. The executor or personal representative in charge of the estate will have numerous obligations. They have a fiduciary duty to act in the best interest of the estate and its beneficiaries. Doing so will require...
An incentive trust is just one type of trust that you can use when doing your estate planning. It allows you to give incentive to your heirs to reach specific goals because they will get their inheritance if they do so. For instance, maybe you have an heir who...
The idea of going to an attorney to have your will written seems time-intensive, laborious and a tiny bit intrusive. Can’t you just write your will by hand instead? Handwritten (or “holographic”) wills are valid in Nevada -- but that doesn’t mean they’re a good idea....