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What Are the Common Estate Planning Mistakes People Make In Las Vegas, Nevada?
Creating a plan for your estate is the best way to ensure the future of your assets. From deciding how to divide your money between your living relatives to ensuring that certain relatives get specific heirlooms, having a sound estate plan can make this process easier on the benefactors of your will. In some situations,… (Keep reading)
Are an Executor and Trustee the Same?
No, they are not the same. The executor is the person who will help execute the plan you laid out in your last will and testament. Their responsibilities are under the last will and testament to distribute the assets in accordance with the person’s will. A will in the state of Nevada needs to be probated… (Keep reading)
How Does a Probate Court Transfer Title to Real Estate?
If a person dies with a will and the property is their sole and separate property, the probate court orders the transfer of the real property to the designated beneficiaries according to the will’s instructions. This transfer is typically done using a quitclaim deed. If there are multiple beneficiaries, the property is distributed to them… (Keep reading)
Why Do I Need a Power of Attorney Now?
The term power of attorney or POA refers to a legal authorization form that gives your agent, also known as your attorney in fact, the power to act for you, the principal. There are two main types of power of attorney, financial and health care, both provide the agent with general or limited powers. A power… (Keep reading)
Should I Hold Title to My Primary Residence in an LLC for Asset Protection?
No, you should not hold title to your primary residence in an LLC for asset protection. Doing so would cause you to lose your homestead exemption and capital gains deduction, potentially trigger a due-on-sale clause on your mortgage, and make obtaining insurance more difficult. Your revocable living trust does not provide asset protection like an… (Keep reading)
What Are the 4 Important Las Vegas, NV, Estate Planning Factors?
Creating a comprehensive estate plan may seem difficult, and thinking about death can be uncomfortable for some people. However, approaching estate planning with a clear understanding of the benefits it can provide to you and your family can help you take full advantage of the benefits of proper estate planning. Working with an experienced Las… (Keep reading)
What Are the Five Most Important Estate Planning Documents in Las Vegas, NV?
Estate planning may not be the most comfortable topic for many people in the Las Vegas, NV, area, but it’s vital to understand what the process entails and the benefits of the effort you put toward it. A comprehensive and legally enforceable estate plan can provide peace of mind for you and relief for your… (Keep reading)
How Long Does Probate Take in Nevada?
Probate is the legal process of distributing assets of a deceased person’s estate and paying any debts owed by the person prior to their death. The length of time it takes to settle legal matters often varies depending on the specifics of the case, and probate is no different. While families are often dealing with… (Keep reading)
