Many readers in Nevada know that the issue of estate planning is one that should be addressed. However, just as many people feel that they have time to wait until they enter into estate planning. This is especially true if an individual feels that they are young or have few assets to leave to their potential heirs.
One recent report notes that estate planning can benefit everyone in Nevada and across the nation, regardless of the size of their estate. Estate planning can be used to achieve goals such as specific bequests of property, family heirlooms, business assets or other valuables. In addition, a person may find that they can detail specific wishes as to the distribution of assets at the time of their death using tools such as a will or trust.
Additionally, there is only a small population of people in Nevada or elsewhere who need to be concerned about the federal estate tax as they enter the estate planning process. However, there may be other considerations, depending on the size of an estate at the time of its creator's death. The good news, however, is that there are tools that can be customized to fit every situation and estate.
Planning for an individual's eventual demise can be stressful. There are few people that wish to consider their own mortality. However, by beginning estate planning early in life, people can ensure that not only are their wishes expressed, but that any heirs will be adequately taken care after their death.
Source: LifeHealthPro.com, "No more estate planning excuses," Philip E. Harriman, Feb.6, 2013