Millions of Americans know they should have an estate plan, yet they neglect to address this important issue. Why? Well, for starters, some probably believe that they do not need an estate plan because they don’t have children, or they are not rich. Well, the fact of the matter is that almost everyone can benefit from an estate plan.
It doesn’t matter if you do not believe you have enough assets to need an estate plan, or that you believe that loved ones left behind will be able to handle any estate needs that arise. An estate plan can provide a detailed framework for how to handle many issues, beyond assets and the care of minor children. Beyond the need to detail how assets, however minor, should be distributed, an estate plan can also include power of attorney documents that can address financial and health problems that might arise while a person is still alive. If you are incapacitated in any way, a power of attorney document could be crucial.
Young and old, Nevada residents who have been avoiding estate planning may need to reconsider their stance. Most people probably have more assets than they realize. They may find out that, in fact, they have significant resources and assets that will need to be accounted for, one way or another.
Any Nevada residents who have questions about how estate planning applies to their own specific circumstances can always seek more information. Being educated about estate planning can help Nevada residents take away uncertainty and address myths that may be out there about estate planning.