You may hear or read unfamiliar words and phrases when you enter the realm of estate law following the death of another. Although these terms may sound similar, they typically have entirely different meanings. For example, the phrases probate administration and estate...
Estate Planning
Can you leave your home in a 55+ community to your adult child?
The area around Reno and Lake Tahoe as well as Las Vegas and its surrounding region feature an abundance of senior communities. They’re often referred to as “55+ communities” since that’s typically the minimum age for residents. They’re popular among seniors healthy...
Why do you need to update your estate plans?
When you first made your estate plans, you may have thought it was a one-and-done process. However, many people don’t realize that estate planning is a life-long process. In other words, you may need to make considerations later in life that affect your original...
Who pays your unpaid bills after you die?
When you’re getting older, it’s only natural to let your thoughts wander to what will happen to your family after you die – and a lot of older people worry about what effect their leftover debts will have on their adult children. They don’t want their liabilities to...
Can you change an executor?
Your appointed executor will ensure your wishes are fulfilled. They will handle funeral arrangements, take the will to probate and manage assets before distribution, among other duties. Thus, they are an integral part of your estate plan. However, in some instances,...
Why reciprocal wills are preferable to joint wills
Many married couples want to simplify their estate planning as much as possible. If they don’t have complex assets or need to set up specialized trusts, they may just want a will that protects whichever spouse lives longer and then, after both are gone, leaves their...
Can estate taxes diminish the legacy of those who die in Nevada?
When someone dies, the property that they own becomes their estate, and probate proceedings are often necessary to transfer ownership of those assets to others. People may have planned carefully for the distribution of their resources so that specific loved ones...
What are the benefits of an irrevocable trust?
When planning for the future, creating a trust may be an essential step, allowing individuals to decide how their assets will be distributed after their passing. Irrevocable trusts offer certain benefits that may suit some individuals' estate planning needs. Unlike...
The true value of a durable power of attorney
When people think about estate planning in Nevada, their main focus is often distribution of property or the care of their dependent family members in the event of their death. However, estate planning can also address many other concerns, including someone's...
Can you prevent your heir from squandering their inheritance?
You have worked so hard your entire life so you can have an inheritance to pass down to the people you love when you die. However, you’ve read tragic stories about heirs who blew their inheritance. And you are genuinely concerned. It is very natural to feel concerned...