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Posted on April 25, 2022 in asset protection,estate planning,trust
One of the many mysterious and important parts of life is its unpredictability, especially when it comes to preparing for the unexpected. Ensuring that your protected assets and estate are properly accounted for and passed to your next of kin is the most effective tool to brace for any life-altering event. To make sure you’re prepared for every situation, starting with an estate plan is crucial for your future planning.
According to Nevada state law, an “estate” is an accumulation of property or assets amassed during your lifetime. In the event of your passing, it will be distributed according to the terms outlined in your will. Any personal property, ranging from heirlooms to clothing, purchased land, automotive vehicles, money, etc., will be considered a part of your estate. By defining your property and creating a comprehensive list of assets owned and managed by you during your lifetime, you can be sure that your family holds on to essential heirlooms and family assets that are important to them.
Similar to outlining your estate, creating a comprehensive estate plan ensures your assets are dispersed among your next of kin according to your wishes. One of the biggest parts of an estate plan is drafting a comprehensive dispersion system of your assets, as well as a beneficiary that will receive any property awarded by your estate plan. Part of an estate plan includes the creation of a will or living trust that outlines the ways in which your estate is to be divided, along with the names of those receiving pieces of your estate.
The first step in creating an estate plan is finding an estate planning lawyer that can accurately manage and handle your case. Getting legal counsel for any formal document creation or process like estate planning can ensure that any formal legal stipulations are accounted for and worked into your plan. Also, finding legal counsel to aid in the creation of your estate plan ensures that any questions regarding the legality of your plan can be answered, making the probate process easier for your beneficiaries. The most important steps in the estate planning process include:
Planning for your passing is a necessary part of life. Establishing an outlined estate plan to ensure that your wishes are respected, along with creating a firm chain of inheritance for your family, is crucial for making sure your last wishes are respected. At Ken R. Ashworth & Associates, we can provide you and your family with the assurance of knowing that your estate and estate plan will be outlined with the utmost care.
Our experienced legal team is well-versed in estate law, providing you with the comfort of knowing that your best interests will always be kept in mind. Dealing with the undeniable truth of passing away is never an easy topic to handle, but at Ken R. Ashworth & Associates, we make the process of estate planning easy, manageable, and reliable for you and your family. To schedule a consultation or find more information, visit our website and contact us today and talk to an estate planning attorney Las Vegas.