Father’s day is a time for napping, watching sports and bonding with Dad for many people in Nevada. It may also be a good time to discuss the estate planning process, says one recent report. This is because many find that their older parents have not properly prepared for their deaths.
The good news for people in Nevada is that there are many options available in estate planning. This means that tools are available that can be customized to meet the needs of every individual. Most commonly, people look first to tools such as a will or trust to begin the process.
Both a will and a trust have benefits and detractions. The main benefit of a will is the ability to easily leave bequests to individuals. A negative for some may be that this type of estate planning document is subject to the public process of probate. That is different to a trust that does not go through the probate process. His alone can save hers a great deal of time and money when a person dies and their estate must be distributed.
Some in Nevada find the estate planning process difficult to consider. This may because few like to think of their own mortality. Regardless, it is important to begin estate planning to ensure that a person’s assets are distributed to those that they intend in the way that they wish when they die. To begin, it may be helpful to review all available options so that the best choice can be made.
Source: cbslocal.com, “Helping Dad With Estate Planning,” Mark Ralston, June 14, 2013