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Are you concerned about the details of your health care and estate as you get older? Would you prefer to provide instructions for your health care and distribution of assets yourself? If your answers are “yes”, the attorneys at the Las Vegas law firm of Ken R. Ashworth & Associates are prepared to help. We bring more than 30 years of experience, integrity and credibility to the table when it comes to helping you achieve your estate planning goals.
Contact us online or call 702-893-9500 at your earliest convenience to schedule an initial consultation. We are prepared to put our skills to work for you.
A living trust is created by you while you are still alive. It provides instructions for your care to your family and friends in the event that you should become incapacitated. It also includes directions for the administration of your estate upon your death, which can help your family avoid the probate process. It is important to note that under Nevada law, any estate that is valued at more than $20,000 and is not set up with a trust must go through probate.
In order to achieve these objectives, you must transfer assets to the trust while you are still alive, or set up the trust to be the beneficiary of your estate’s assets. Transferring your assets to a living trust has no income tax consequences while you are still alive.
A living trust can be either revocable or irrevocable. Revocable trusts can be amended or revoked at any time in writing. Irrevocable trusts cannot be amended or revoked. Our attorneys can help you determine which type of trust is most appropriate for you.
You may also create a special needs trust for yourself or a loved one to provide for the costs of health care in the event of incapacitating illness.
A living will has many benefits and should be considered as part of a comprehensive estate plan. To learn more, contact us online or call 702-893-9500 to schedule an initial consultation to discuss your needs.