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Should Asset Protection Be Part of Your Nevada Estate Plan?
Estate planning has become more popular over the last decade, but now individuals are going even further and incorporating asset planning to supplement their estate plan or, in some cases, replacing it altogether. Depending on the circumstances of a situation and the individual’s assets and specifics of their wishes for those assets following their death,… (Keep reading)
Estate Documents You Should Update After the Death of a Spouse
Losing a spouse is a deeply emotional and distressing experience that can leave you feeling overwhelmed and heartbroken. As you navigate the grieving process, paying attention to important legal and financial matters that may arise due to this significant life change is crucial. Ensuring your estate documents are up to date can help protect your… (Keep reading)
Is Putting Your House in a Trust a Good Idea?
Estate planning can be a complicated process, especially when you are unsure of the best way to protect and distribute your different assets. When you are planning for your home’s future, many people consider putting important property, like their family home, into a trust. Putting your home in a trust comes with a variety of… (Keep reading)
What Are the Disadvantages of a Trust?
Estate planning can be a complicated process. A trust can be a way to have your wishes carried out in a structured way, and beneficiaries can begin receiving the benefits of the trust while you are still alive. Trusts, which are frequently used by those with substantial assets, can help families with difficult dynamics avoid… (Keep reading)
Who Needs a Trust Instead of a Will?
Estate planning can be a difficult and complicated process. As you plan for the assets you have and what your wishes are, you want to make the best decisions to ensure that those wishes are carried out. You may also want to take steps to make the process easier for those who have been entrusted… (Keep reading)
Nevada Revised Statute (NRS) Chapter 115 is the law that establishes the right to homestead your primary residence. At present, a homeowner can protect up to $605,000 in equity, which the statute defines as the amount that is determined by subtracting from the fair market value of the property the value of any liens excepted… (Keep reading)
What Assets Are Not Considered Part of an Estate?
Assets not considered part of an estate primarily include retirement accounts such as 401(k) accounts, pension plans, living trust assets, and savings bonds. These accounts typically require you to name a beneficiary directly, and the funds pass to that individual outside of the formal estate and probate process. Savings accounts can also fall into this… (Keep reading)
What Are the Components of an Estate?
Estate planning can be intimidating. Many people do not know where to begin, and others do not want to think about what will happen to their possessions, investments, and family members after they pass away. Although thinking about your own mortality can be an uncomfortable thought, it is extremely important that you take the proper… (Keep reading)
