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Nevada estate planning can reduce the chance of future litigation

| Aug 23, 2013 | Inheritances

Blended families are becoming more and more common, as many readers in Nevada know well. What they may not be aware of is that this has led to an increase in the number of contests of estate planning documents in probate courts across the land. However, there are ways to protect against such actions, says one recent report.

Blended families often combine the children of both spouses. In addition, the partners in a second marriage may also have a biological child. This can leave questions as to how an estate is distributed as well as increase the importance of proper estate planning documents.

For example, if a person in Nevada dies intestate, or without estate planning documents prepared, the state law applies. This means that a court decides how to distribute assets and who will be appointed to be the guardian for minor children. This can lead to results that may have been unsatisfactory to the person whose estate is being affected.

Estate planning can look different for every person in Nevada. This is the case because of the ability of estate planning tools to be modified to meet the needs of an individual. To determine what would work best for a particular situation, and to limit the chance that litigation results after the death of the person entering into estate planning, it may do well for people to review all of the available options. Such an effort can lead to peace of mind in the person creating the plan as well as lower cost, both emotionally and financially, to those who are left behind.

Source: nhmagazine.com, “Advice for Wills, Trusts and Estate Planning,” Jeff Woodburn, Aug. 1, 2013

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