Friday, November 29, 2013

How to Make a Will or Trust in Nevada

Las Vegas Wills and Trusts

Proper will, trusts, and estate planning in Las Vegas, Nevada, is vital in order to inform your loved ones of your desires regarding your estate after you have passed away or are no longer able to make critical decisions. Changes in Nevada law have a direct impact on how the court will settle your affairs if you have not planned ahead. Do not leave your family guessing, and do not wait until you are ill. Jim can help you plan your estate, today. Here are a few basics that you should know.

why should I make a will and what is a trust

  • Nevada law makes it necessary to execute a will in order to ensure that your assets will go to the people you want them to in case of your death.
  • It is also the best way to ensure that any minor children you may have will end up with the guardian that you desire.
  • Please note that if your spouse/partner survives you, certain assets that are deemed theirs cannot be willed to someone else.
  • Even if you have already executed a will, you may choose to make changes at some point. You will want a lawyer to help you ensure that these changes are legally binding.
  • Not only do you not want to leave loved ones guessing what you would have wanted, but you also want to ensure that no one can intentionally ignore your wishes.
  • Selecting an executor and including that information in the will is an important part of ensuring that your desire are carried out fully and expediently.
  • This would include any charitable groups that you wish funds to go to.

You can also create trusts in Las Vegas to set aside funds or assets for future generations. You may need to relinquish the assets at the time the trust is formed. Trusts may be able to protect your assets from things like litigation, thus preserving what is yours for your loved ones. You may also name a charity as the beneficiary of a trust. There may be certain tax benefits to doing so that your trust attorney can help you to discern. Creating such a trust may even help you to change the tax bracket that you fall into for a particular year.

Hopefully, you will be here to enjoy your estate along with your loved ones for many years to come. In the event that doesn't occur, be sure that your will and trusts distribute your estate as you want it to be done.

Make sure your will works for you and your family and have a trusted attorney overlook your will even if you choose to create a do-it-yourself will. Contact our law office for more information on creating a Las Vegas Nevada will.