People who want to pass assets down to their loved ones need to ensure they set up their estate plan so it reflects those wishes. Some simple estates can use the will to do this, but others may choose to use trusts. There are many types of trusts, all of which fall...
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Estate Planning
Your trust may be invalid due to these 2 common reasons
Trusts are some of the most useful estate planning tools. The asset protection benefits and flexibility they offer are almost unparalleled, which could perhaps be the reason behind their growing popularity. However, like every other legal arrangement, everything must...
3 assets you should never include in your will
Most people appreciate the need for a will. If you are considering creating a will, you need to ask two crucial questions: firstly, who should inherit your assets when you die? And secondly, what assets should you include or leave out of your will? A properly drafted...
Financial events that should prompt updates to your estate plans
Estate planning empowers you to manage your assets and healthcare during your life, but it also gives you a degree of control after death. For example, the asset distribution instructions you created while alive remain in effect until your estate clears probate. You...
How does a trust protect your assets?
Legally, a trust and its beneficiaries are two distinct entities. When you create a trust and fund it by the book, the assets held in it belong to the trust, not to the individuals who will benefit from the trust's proceeds. As such, some trusts offer a form of asset...
When are the best times to update an estate plan?
Many people find thinking about their eventual death to be intensely unpleasant, so they procrastinate about creating an estate plan. If you have already taken the crucial step of creating an estate plan, you may feel better prepared than the average adult for...
Choose your estate’s executor carefully
When you start planning your estate and creating a will, one of the many questions you may be asked is who the executor of your estate will be. This could throw you off guard if you don’t know how an executor functions in your will. You shouldn’t have to be in the...
Is a no-contest clause enforceable in Nevada?
One of the primary reasons why people create wills is to ensure that their wishes will be understood and honored when they are no longer around to make important decisions. Unfortunately, we live in a litigious world. It is not uncommon for the will to become the...
2 causes of estate problems
When people start setting aside assets and considering who will inherit their estate, there are a couple of mistakes people may make, making it harder for family, friends and loved ones to inherit from your estate and even cause estate disputes. Here’s what you should...
Using estate planning to transfer your investments
Estate planning is a helpful tool to help you transfer your investments to the people you care about. You may be interested in passing your home on to your children, for example, or sending money to a cousin or grandchild when you pass away. Estate planning allows you...