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Estate planning in Nevada can help achieve goals

| May 14, 2013 | Inheritances

When people in Nevada consider creating an estate plan, they have many different goals. Some hope to leave money to a favorite charity, while others seek to ensure that their kids are well cared for. The good news is that, in every case, there are estate planning documents that can be customized to fit the needs of the person encountering the process.

For the many baby boomers that live in Nevada, the time may have come for them to consider how they want to leave their estate to their children. One recent report notes that it may benefit those who are set to inherit from their parents to have a clear understanding of how much may potentially be inherited. This, the report says, can help to limit hurt feelings or even litigation when an estate is distributed.

Before this discussion with potential heirs can occur, it is important for a person to consider how and what they intend to leave. This will help with the selection of proper estate planning tools. For example, it may be that an individual wishes to place their assets in a trust that is intended to distribute a portion of an estate at various milestones of their heirs. Others may seek to create a will that distributes assets immediately upon probate.

Beginning an estate plan can be intimidating to some people in our state. Though the process can be emotionally challenging, it is one that can be helpful for those that are left behind. That is why many people find that they must work to create a plan that benefits themselves while they are alive and their heirs when they pass away.

Source: aarp.com, “How to Leave an Inheritance to Your Kids,” Jean Chatzky, April 24, 2013

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