Some people create wills and other estate planning documents after a major life event and then never review them again. It is common for new parents to create wills to ensure there is a guardian to care for their children. Those who recently became homeowners may...
There’s more to estate planning than just having the paperwork signed and stored away. You must ensure the documents actually work when your family needs them the most. Many people feel a sense of relief once they’ve created a will or trust, but even well-intentioned...
The probate process typically occurs during a time when family members are mourning the death of a loved one. When choosing a personal representative (executor) to administer their estate after they’re gone, it’s important for people to choose someone who can think...
You built a successful business over many years. Now you want to know what will happen to it after you pass away. One child may be working in the company and understands how it runs while another may have chosen a different career. You may assume a will can simply...
Personal representatives (also widely known as executors) who are overseeing the administration of a decedent’s estate have an obligation to manage estate resources. They are also responsible for the financial obligations of the decedent. The personal representative...
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...