There are many elements to be considered as a person in Nevada begins the estate planning process. Commonly, people understand the need to choose to use tools for estate planning such as a will or trust to disperse their assets at the time of their death. What they...
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Heirs & Beneficiaries
New rules affect estate planning in Nevada
The recent fiscal cliff negotiations in our nation's capital made the headlines in Nevada and across the country. At the end of the ongoing process, Congress enacted the American Taxpayer Relief Act of 2012 (ATRA). This Act encompasses several laws that may be of...
Pets can be included in Nevada estate planning
There are many reasons that people in Nevada seek to create an estate plan. For many, the desire to ensure that their families are cared for after their deaths impels them to begin the estate planning process. Some wish to appoint guardians for minor children....
Nevada estate planning may require review as tax changes occur
As we mentioned in our blog post on Dec. 21, 2012 ("The estate and gift tax exemptions are going up. What does it mean?"), many readers in Nevada are aware that the estate tax is set to change when the calendar year rolls over to 2013 unless Congress takes action. In...
The estate and gift tax exemptions are going up. What does it mean?
As we all know, the federal government levies taxes on large estates, which are sometimes called "death taxes" by those who would prefer it did not. The gift tax is related, because giving assets to family members before death was often used as a way to reduce the...
Nevada estate planning can be changed in some cases
Some of our readers in Nevada want to create an estate plan so that there will be little chance of a battle between heirs and beneficiaries after their death. However, in some estate planning situations, changes can be made to a will or trust that can lead to such...
Estate planning in Nevada can include long-term care
Estate planning in Nevada often means many things to different people. Some seek to ensure that their assets are distributed as per their wishes after their death. Others use available estate planning tools to plan not only for distribution of assets after death but...
Nevada estate planning may include pets
In the wake of recent weather-related disasters such as tornadoes in the Midwest and Super Storm Sandy on the East Coast, many in Nevada and elsewhere may be considering whether they have appropriate estate plans in place to deal with such disasters. For some, this...
Nevada estate planning could benefit from use of trusts
Many people in Nevada and across the nation believe that they do not need to create an estate plan because of the relative small size of their estate. However, those folks may be surprised to learn that the amount of savings they can achieve in taxes by creative...
Nevada estate planning: what can be included in a will?
One of the first things that most people in Nevada think of when beginning estate planning is a will. Often considered the most fundamental of estate planning tools, the will can be used to express the wishes of individuals as to how their estates are divided at the...
