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Lifetime Estate and Gift Tax Exemption
Posted in estate planning,tax planning on October 20, 2023
It is expected that the lifetime estate and gift tax exemption will be around $5 million after 2025. For deaths occurring in 2023, the exemption amount is $12,920,000. Therefore, if anyone wants to make significant gifts, it is advisable to do so before 2025 ends.
What Happens When the Beneficiary Predeceases in Nevada?
Posted in asset protection,estate planning on October 15, 2023
It’s common for many residents throughout Nevada to consider how their estate and assets will be distributed after they pass on. However, there are some cases where a beneficiary, or the person who is entitled to receive part of the estate, passes away before the death of the individual, also called the testator. There is… (Keep reading)
Posted in asset protection on September 19, 2023
The estate of a Medicaid recipient is generally obligated to repay Medicaid for the benefits the decedent received during their lifetime. This is sometimes referred to as Medicaid Clawback. Put more simply, Medicaid wants to be reimbursed for the benefits it paid to beneficiaries. There are exceptions, however. When a person makes an application for… (Keep reading)
How Does a Trust Work in Nevada?
Posted in trust on September 11, 2023
Nevada’s laws surrounding trusts are innovative and more cutting-edge than most states. Trusts in Nevada come with a myriad of estate planning benefits, and they meet the needs of many Nevadans. Below is an introspective look at the inner workings and resulting advantages of a Nevada trust. What Is a Nevada Trust? A trust is… (Keep reading)
What Is the Irrevocable Trust Law in Nevada?
Posted in trust on September 8, 2023
Many individuals who embark on the task of estate planning in Nevada pose the question, “What is the irrevocable trust law?” To understand how Nevada’s laws apply to an irrevocable trust, you should first understand what a Nevada revocable trust is. A revocable trust is a trust that can be revoked or recalled by the… (Keep reading)
The Benefits of an Integrated Estate Plan
Posted in estate planning on August 9, 2023
Many people choose to put it off and keep from doing any estate planning. We always think we’ll have more time to deal with it sometime later. However, you shouldn’t wait to deal with your estate planning, as an accident could happen at any time that leaves you incapable of making arrangements for your belongings… (Keep reading)
What Is the Difference Between an Estate Planning Attorney and a Probate Lawyer?
Posted in estate planning,probate on August 8, 2023
While some people use the terms estate planning attorney and probate lawyer interchangeably, the two are fundamentally different. Estate law is tricky for anyone unfamiliar with the terms, but it’s important to know what everything means when dealing with the law. Both attorneys help clients manage estates, but they do so at different times in… (Keep reading)
How to Prepare Before Meeting Your Las Vegas Estate Planning Attorney
Posted in estate planning,tax planning on July 19, 2023
Establishing an estate plan now is the smartest way to prepare for your loved ones’ futures after your passing. However, as you prepare to make your estate plan, it is critical to consider what needs to be done before you can properly begin. Meeting with your estate planning attorney is the most important step you… (Keep reading)
