By Patricia Trent | Published December 17, 2015 | | |
We hear this question from our estate planning clients quite often. The scenario is usually something like this: A divorced man with two children from a previous marriage marries a divorced woman with one child from a previous marriage. They plan to have children of their own. Each wonders, if I predecease my spouse, what Read MoreRead More
If like many of our clients, you and your family have enjoyed countless days at a beloved vacation retreat, you may be wondering how to keep that property in the family for generations to come. How you plan to transfer your vacation home will make all the difference in whether your children are able to Read MoreRead More
At first glance, the term “holographic will” sounds like something out of Star Trek, but the concept is rather simple and has been around for a long time. It is a self-executed will in which the signature, date and material provisions are written by the hand of the testator. Such wills are valid in Nevada Read MoreRead More
According to a recent story in Bloomberg Business, Nevada is one of a handful of states to which wealthy Americans, heavily taxed in their home states, are moving significant assets. Delaware and Alaska are also targets for individuals who want to avoid high income taxes. That wealth is coming in from states like New York, Read MoreRead More
A testator often inserts a clause into a will stating that any beneficiary who contests the will is automatically disinherited. The no-contest clause is meant to discourage frivolous suits by disappointed heirs who feel they didn’t get their fair share. These clauses are valid in Nevada, but they do not create an absolute prohibition. The Read MoreRead More
An expected inheritance can be an important part of your plans, affecting everything from being able to afford to buy a house to determining if and when you can retire. You cannot afford to walk away when obviously fraudulent changes to the will leave you without the assets you expect to inherit. However, before you Read MoreRead More
When the courts appoint a guardian, that person can take control over most aspects in the life of the ward, including the handling of daily finances and decisions regarding where the ward lives. However, guardianships do not grant the power to change the overall plans the ward made earlier in life. This is why it Read MoreRead More
If your life does not change in any way, you may have only a minimal need to alter your overall estate plan. However, life is not stagnant. People come and go, financial holdings vary and healthcare needs change — to name just a few situations. A long-term relationship with an experienced Las Vegas estate planning Read MoreRead More
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 Read MoreRead More
Q: What is estate planning?
A: Estate planning involves agreements and documents defining arrangements for transferring ...