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 value of an estate and avoid taxation. To prevent that, the gift tax was devised.
Many in Nevada who have begun to plan an estate have learned that there are rules that apply to the construction of a will. This most basic of estate planning tools is used commonly for those in our state who have assets to distribute and guardians to appoint. With this type of document, many of the wishes of an individual can be explained to a person's heirs.
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 time of their deaths. However, there are many facets of the document that may be unfamiliar to those in our state.
There are many reasons that people in Las Vegas consider engaging in litigation during the probate process. Sometimes the amount of money or the method of distribution of assets cause probate conflicts. In other cases people may disagree with the actions of an executor and seek to have them removed from their duties. What many people may not consider, but which is an unfortunate reality for many families, is when there is the added component of the deceased having been murdered.