If you have any assets, and want to ensure those assets are distributed to specific people when you die, a will — a centrally important tool in the estate planning process — is what you need. A well-designed estate plan contains many other vital components that protect you throughout your life — not just when you die.
You need to take a holistic approach to planning for yourself and your family members. That is why Las Vegas estate planning attorneys assess a range of issues to determine the needs of their clients. They can often help reduce tax liabilities, using a variety of methods — from charitable contributions or other gifts to placing income-producing assets into trusts. If you have special-needs children or elderly parents, an experienced attorney can help you create a plan that provides the protection they need, without disqualifying them from receiving government benefits.
Health issues are an important concern to address in an estate plan. Many people understand the importance of having a living will in place to make their wishes known concerning life-sustaining procedures. However, they fail to consider what happens in case of an accident or illness that prevents them from communicating their wishes about medical treatment. The State of Nevada Division of Child and Family Services stresses the importance of designating specific people to act as agents, through a healthcare power of attorney. This document helps ensure that only individuals they trust are authorized to make these vital decisions.
With more than three decades of experience, the law firm of Tyrell Law, PLLC has built an outstanding reputation for helping clients understand the legal issues involving their estates, at all points in their lives. Contact us to learn how we can help you.
Q: What is estate planning?
A: Estate planning involves agreements and documents defining arrangements for transferring ...