Archive for May 2015
The basics of revocable trusts for Nevada residents
Many Nevada residents are advised to create revocable trusts during the estate-planning process. However, many are hesitant to do so because they do not entirely understand how revocable trusts work. Further, they may not understand the benefits and risks. A revocable trust is created — and can be changed or revoked — during the life…
Read MoreAgreement reached in guardianship of Whitney Houston’s daughter
Nevada fans of the late Whitney Houston or Bobby Brown are most likely aware that their daughter, Bobbi Kristina, was found in the bathtub at her home in January. She was unresponsive and remained hospitalized until sometime in March when she was moved to a rehabilitation center. The 22-year-old’s grandmother says that she suffered irreversible…
Read MoreExecuting the appropriate powers of attorney
The risk of mental decline increases as Nevada residents age. The possibility of suffering from dementia, ordinarily in the form of Alzheimer’s disease, means that some pre-planning is needed in order to ensure that an individual’s care will not be jeopardized. Powers of attorney and medical directives can provide individuals and their families with the…
Read MoreEstate planning for married couples in Nevada
For most Nevada couples, getting married is full of excitement and anticipation. The last thing these couples are thinking about is estate planning, but once a couple is married, new financial and legal rules apply that need to be accounted for by the parties. Those who already have an estate plan may need to make…
Read MoreWills created more than 10 years ago could be out of date
Many Nevada residents may be under the impression that once the documents are executed, their estate plans do not need any further attention. Unfortunately, nothing could be further from the truth. Wills created more than 10 years ago could be woefully out of date, and their provisions could end up costing individuals thousands of dollars…
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