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Posted in asset protection,estate planning on November 15, 2022
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 cletermined 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?
Posted in asset protection,estate planning on November 14, 2022
Estate planning is a very important process for almost everyone. Although it may be difficult to consider what will happen to your family after you pass, by creating an estate plan, you can protect your assets and your loved ones long after you are gone. Although the process is important, estate planning is a complicated… (Keep reading)
What Are the Components of an Estate?
Posted in asset protection,estate planning on November 10, 2022
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)
What Are the Inheritance Laws in Nevada?
Posted in asset protection,estate planning,probate on October 16, 2022
For most people, family is a priority. Caring for your loved ones can mean keeping yourself healthy, spending quality time together, and helping in times of need. Most people do not think about their own mortality when they consider caring for their family. However, one of the best things you can do for your family… (Keep reading)
What Makes a Will Legal in Nevada?
Posted in asset protection,estate planning,probate on October 15, 2022
No matter what stage of life you are currently in, it is important to have a reliable will for your assets. Although it may seem unnecessary if you are young and in good health, the reality is that it is never too early to begin the estate planning process. At the very least, you should… (Keep reading)
The Death of a Loved One is Extremely Difficult
Posted in asset protection,IRS,tax planning,taxes on September 26, 2022
The death of a loved one is extremely difficult. This information should help so at least their final tax return will not be a nightmare. After the death of your spouse, their final tax return (Form 1040) should be filed the following April 15th after their death. The preparer will check a box on the… (Keep reading)
Who Owns the Property in a Trust?
Posted in asset protection,trust,trust funds on September 15, 2022
Planning for your family’s future is important, regardless of your assets. Establishing a trust can be a great way to protect assets and ensure your family is taken care of, but it can also be a confusing process. There are many options when it comes to establishing a trust, such as a family trust or… (Keep reading)
Should Your Bank Accounts Be in Your Trust?
Posted in asset protection,trust,trust funds on September 8, 2022
Most people want to ensure that their families will be taken care of after their deaths, but it is not always easy to know how to make that a reality. Establishing a trust is a great way to ensure your loved ones are provided for and receive the correct assets. However, navigating the world of… (Keep reading)