Archive for November 2016
Nevada residents should not procrastinate estate planning
Not many people like to think about death, whether their own or that of a loved one. However, when it comes to estate planning in Nevada, it is something that is too important to avoid. An estimated 50 percent of people die without wills, and while there are many possible reasons for this, it is…
Read MoreNevada estate planning: Wills vs. trusts
What is the difference between wills and trusts? Is one better than the other? For residents of Nevada considering estate planning, it helps to learn the differences between the two, so that they and their attorney can determine which may be more suited their specific needs. In essence, a will is a document prepared while…
Read MoreLife insurance useful for beneficiaries of Nevada estate planning
With careful planning, residents of Nevada can use life insurance to help their beneficiaries with asset protection and other expenses after their deaths. Proceeds from life insurance should be taken into account during estate planning, as they can be liquid assets if necessary. For example, if a beneficiary is faced with a high estate tax…
Read MoreDo not forget the powers of attorney when creating an estate plan
Estate planning is about more than just what will happen to a Nevada resident’s property after his or her death. However, there is another aspect to it that also needs to be included in order to complete an estate plan. Powers of attorney will ensure that someone is available to make decisions on behalf of…
Read MoreAsset protection is just one function of trusts
Preserving property for the next generation is one goal of estate planning. For many Nevada residents, a will is not enough to make that happen. Trusts are often used for asset protection, but that is only one of their functions. Numerous types of trusts can be used in order to pass on your property to…
Read More