When drafting an estate plan, one key element to consider is a power of attorney. This is a document that you use to select an agent. If you become incapacitated, the agent can then act on your behalf. Incapacitation can happen for a number of different reasons. It...
Succession planning involves identifying critical job functions and workers who may be capable of filling future leadership positions within a company. Often, the plan may include structured training to help potential successors gain the knowledge and skills they need...
After assessing potential parties and choosing one to serve as your executor, you need to officially ask them. Understandably, doing this can be challenging, since you will be asking them to assume a critical role with legal and ethical obligations. So, how can you...
After drafting your estate planning documents, it’s crucial to store them safely. You want to store your documents in a location that guarantees protection from loss, damage or unauthorized access. Nonetheless, you should not need to go through several steps to access...
In Nevada, a living will is an estate planning tool that contains specific details about a person’s medical treatment preferences and end-of-life care directives. While this document also carries a “will” on its title, its legal purpose is entirely different from a...
A significant percentage of beneficiaries have reported experiencing guilt. It’s a psychological response that arises when someone receives wealth stemming from the loss of a loved one. While guilt is part of grief, it can prevent a beneficiary from benefiting from...
Cases of siblings disagreeing because of their parent’s estate plan are not uncommon. This often leads to court cases, delayed distribution and damaged relationships. But what can lead to siblings fighting over inheritance? Here are two common causes: Unequal bequests...
If the estate executor distributes copies of a person’s will, and one of the beneficiaries is unhappy with what they have been allotted, they may want to challenge the will. Maybe they expected to receive different family heirlooms, for example, or a greater...
Estate planning often requires that testators make a number of challenging decisions. They have to choose who to name as beneficiaries and what each of their beneficiaries should inherit. Making decisions about particularly valuable assets can be a challenge,...
The personal representative or executor of an estate is likely to experience some conflict during estate administration. People who expect to inherit from the estate may take issue with how the personal representative manages estate resources or communicates with...