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Estate planning may protect the family future in Las Vegas

| Sep 7, 2012 | Heirs & Beneficiaries

There are many reasons that some in Las Vegas seek to avoid estate planning. Often their avoidance is based on the lack of desire to consider their own mortality. However, as at least one authority notes, estate planning can help to ensure that your heirs and beneficiaries know what your wishes are at the time of your death or incapacity, and are equipped to handle the administration or probate process. One of the first, and perhaps the most important, decisions made may be choosing who will execute the wishes.

To ensure that wishes are clear to heirs and beneficiaries, authorities suggest completing some estate planning tasks earlier in one’s life. For example, a person may wish to designate a guardian for minor children. This is a person who would be responsible for the care and upbringing of children after the death of their parents. Similarly, drafting power of attorney documents can help ensure that family members do not struggle to determine who will make decisions if the person planning their estate becomes incapacitated or deceased.

In addition, a person in Las Vegas concerned about the distribution of their assets may want to create a will or trust. These types of estate planning tools can offer a person the chance to not only express their wishes, but also to protect some assets from the probate process. Included in these documents may be a health care directive, also known as a living will that details a person’s wishes as to end-of-life care.

There are many different tools for estate planning that are designed to help individuals express their desires for the end of their life and the distribution of assets. Utilizing these tools fully may help families avoid the probate process, and move forward through the grieving process without the added stress of dispute between members. The decision of which estate planning documents to use for an individual estate differs with each individual, so individuals in estate planning may benefit from understanding what options are available to help them secure the future of their family and assets.

Source: Yahoo! Finance, “5 Estate-Planning Tasks That You Shouldn’t Put Off,” Christine Benz, Aug. 20, 2012

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