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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 have a proper will in case of an emergency or tragic situation.
Creating a will protects your family if something happens to you. Although the process of creating a will is not difficult, it is very precise. It is best to have an experienced attorney to help you with this process.
Our team at Ken R. Ashworth & Associates is here to help you with all your estate planning needs. If it is time to create a will, or update an existing one, we are ready to guide you through the process and ensure that the final product is legal and comprehensive.
Although most people understand the basics of a will, few people know the details of what a will can do. These documents go far beyond outlining what will happen to your effects when you die, although that is an important aspect of them.
When you create a will, you are controlling what will happen to your family and some of your assets when you pass. Although a will is only part of the estate planning process, it does ensure that you address all the important concerns while you are alive, coherent, and able.
A will should outline:
These considerations are extremely important. Without a will, your assets and children may end up with the wrong people.
Making a legal will requires that:
There are many opportunities for error when creating a will. Therefore, it is important to create your will with the help of a qualified attorney.
When a person dies without a will in the state of Nevada, the state follows intestacy laws. Essentially, this means that your assets will move to your next of kin, regardless of whether your next of kin is the person you would have wanted to inherit your belongings. Generally, this is your spouse or children. If the state moves through several relations and cannot find a next of kin, the state will keep your assets.
Although allowing your spouse or children to inherit your items may not seem like a bad thing, it can create significant problems. For example, if you have a child with your first spouse but then get divorced and remarried, your second spouse would be the first person to inherit your assets if you die. If they so choose, they can leave all your assets to their own family members or biological children and leave nothing for your child from your first marriage. A will ensures that this situation does not occur and that your family is cared for if you pass away.
A: For a will to be valid, there must be a physical copy. This physical copy must be signed by two witnesses who are not named as beneficiaries. The witnesses must sign the document in front of you, and you must sign it in front of them. The will must include a plan for all your assets. You must be of sound mind when you create your will.
A: Yes. Handwritten wills, also known as holographic wills, are legal and accepted in Nevada. These wills do not have the same requirements as formal wills. It is best to only create this type of will in an emergency. If you are planning ahead, it is best to work with an attorney to create a proper document that ensures that your wishes are met.
A: No, but it must be self-proving. Notarization can also accelerate the probate process, which is extremely beneficial for your family after you pass. Your best course of action is to create a will with an attorney to be sure that you follow all requirements and that your will is legally binding.
A: Yes. Your family has 30 days after your death to submit your will to the court for record. When this is finished, the probate process begins, which allows your beneficiaries to receive what is rightfully theirs. Wills are part of the public record, so after they are recorded, anyone can access them.
Our team at Ken R. Ashworth & Associates is here to support you throughout your estate planning process. When you work with us, you gain peace of mind knowing that your will is properly created, signed, and filed. Our team ensures that all your estate planning documents are legally binding and airtight. Talk to an estate planning attorney Las Vegas, Nevada.
For more information, or to schedule an appointment, contact Ken R. Ashworth & Associates online today.