Considering estate planning in Nevada?

Some Nevada residents might find the topics of death and estate planning matters they would rather not discuss. Yet, it is advisable to take the time to talk about one’s estate, particularly if the goal is to help prevent conflict and stress for family members. Careful estate planning is a means to ensure that one’s final wishes and directives are protected in the event of one’s death or incapacity.

A financial education specialist said that it is always better to handle such matters in a timely manner.  Those who procrastinate can unknowingly cause complications and struggles for their loved ones if they die with no plan in place. Without a well-documented and updated plan, some family members have been known to squabble and even engage in long-term battles over things that could have been taken care of if the deceased had carefully addressed the issues before death.

Medical directives offer instructions for emergency care should one become incapable, due to mental or physical disability, to voice such wishes on one’s own behalf. A power of attorney allows a trusted source to make financial decisions on one’s behalf in specified circumstances. Both of these are important additions to an estate plan.

In Nevada, an attorney experienced in handling estate planning matters can offer assistance to those who wish to protect their assets and provide for the care of their family after their own deaths. Keeping a thorough and updated plan on file is one way to help loved ones avoid conflict further down the line. Once a plan is in place, it should be reviewed on an annual basis or after the birth, death or divorce of a family member.

Source: houstonherald.com, “Expert: Establish an estate plan before death comes knocking“, Sept. 30, 2015