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How Does a Probate Court Transfer Title to Real Estate?

Posted in asset protection,estate planning,probate on August 4, 2022

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?

Posted in asset protection on July 28, 2022

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?

Posted in asset protection on July 20, 2022

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?

Posted in estate planning on July 16, 2022

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?

Posted in estate planning on July 15, 2022

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?

Posted in asset protection,probate,trust on June 30, 2022

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)

How Does a Family Trust Work in Nevada?

Posted in asset protection,probate,trust on June 29, 2022

Establishing a trust is one way to ensure your assets are dispersed according to your wishes once you’re no longer alive. Living trusts can be set up in different ways, depending on the needs of you and your family. Family trusts can be created so you can specify which family members your assets will be… (Keep reading)

What Is Qualified Small Business Stock?

Posted in asset protection,tax planning,taxes on June 15, 2022

Under section 1202 of the tax code, individuals investing in Qualified Small Business Stock (“QSBS”) can exclude a significant portion of associated capital gains when selling or exchanging that stock depending on when it was acquired.  In fact, for QSBS acquired after September 27, 2010, and held over five years, gains may be completely tax-free… (Keep reading)