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It is never easy to begin making an estate plan or drafting a will, but as a means of ensuring your wishes are respected in the event of your passing, creating a will is extremely important. When it comes to certain stipulations or requests you have about your health, beneficiaries, or even burial, a will can help you ensure that these requests are properly managed, especially with the help of legal counsel.
A will is a particular set of requests, beneficiaries, responsibility carrying individuals, and asset divisions that are legally outlined by you to be used in the event of your passing. Anything from the means by which you decide to be buried to the ways your belongings and heirlooms are divided among your beneficiaries and outlined in your will. Making sure that these processes are thoroughly outlined and legally backed will be crucial to making sure your last wishes are respected after your passing.
One of the essential first steps towards creating your will is outlining a list of beneficiaries, along with a list of assets of yours that are to be divided amongst your chosen beneficiaries. For example, if you would like your son or daughter to receive an heirloom wedding band or would like your family to retain the deed to a vacation home, clarification is crucial. Creating a solid plan of which assets are going to which family members is the first step in the process of creating a will.
As with any other legal issue, creating a will comes with important legal guidelines to secure its authenticity. Nevada state law requires that a will can only be legally considered valid if it meets these specific criteria:
Although slightly confusing at times, making sure your will follows all Nevada state laws on will creation is crucial for your will to be considered valid, and consulting an attorney during that process is one of the easiest steps toward ensuring that your will can be recognized in accordance with Nevada state laws.
Although similar in their function, a will and a living trust are very different legal documents. A will, because it is drafted by the testator of the estate, is written with specific instructions that come from an individual about their passing. For example, burial instructions can be included in a will, allowing those who have just passed to be buried by their preferred method. After death, the will is then discussed in probate court, which begins the process of asset division among beneficiaries. A living trust, on the other hand, does not need to be handled in court, and the stipulations listed in the trust can go hand in hand with a separate Last Will and Testament for the grantor.
Nevada’s laws surrounding will creation do not require you to have a lawyer to create a will; however, finding a lawyer capable of providing you legal counsel during your will drafting process is extremely helpful. Because it contains important information regarding financial information, medical information, and sometimes landowning information, being able to create a legally sound will is of the utmost importance during the probate process. When your will is discussed with your beneficiaries, this discussion will be done in court, so making sure your will is legally sound from a formatting perspective is imperative to the legal process as well.
When planning your estate, you should take careful consideration regarding the formulation of your will, as well as the culmination of all of your assets, debts, and property that is to be delivered to your beneficiaries. At Ken R. Ashworth & Associates, our expert legal team is well-versed in estate law and will drafting, providing top-tier legal counsel to aid you in the will drafting process. It is never too soon to begin drafting your will, and at Ken R. Ashworth & Associates, we can help make the process as easy as possible for you and your family. For more information regarding our will-related services, as well as any estate-related questions, be sure to visit our website and contact us to schedule your consultation today.