Litigation involving your estate can be costly, stressful and emotionally draining for your loved ones. One of the most common disputes involves claims that the person creating a will or trust lacked the mental capacity to make informed decisions. Establishing proof...
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Estate Planning
Do you need an asset protection trust?
There are various reasons why people work hard, invest and save money. However, most will say they want enough money to enjoy a comfortable retirement and leave an inheritance to their children when they die. A stay at a long-term care facility can significantly...
How trusts help safeguard your wealth for future generations
If you’ve worked to build wealth over the years, you probably want to see it benefiting the people you love long after you’re gone. However, without careful planning, that hard-earned wealth can easily be chipped away by taxes, creditors, lawsuits or even family...
Creditor claims against a decedent’s estate
When a loved one passes away, their loved ones will likely want to get the final affairs handled quickly. They’re likely grieving their loss as they’re doing this, so it’s critical for them to understand how to handle things like creditor claims against their loved...
When should you consider updating your estate plan?
If you have created an estate plan, that is a great first step. Most people have not even done this, so you are ahead of the game. However, an outdated estate plan may not be as helpful to your family as you assume. For this reason, it is important to update it...
Charitable trusts can support beloved causes
Charitable trusts are a structured way to support beloved causes once you pass away. This can help to provide support for the long term for the charity, which can ensure it can help people during that time. These trusts don’t have to offer support only to the charity....
Should you get a revocable or irrevocable trust?
A trust can be a useful inclusion in your estate plan. For example, it can help your assets skip probate and reach the beneficiaries sooner. The main distinction in trusts is whether they are revocable or irrevocable. Understanding the key differences can help you...
The Fiduciary Duties of an Executor
The person tasked with managing the estate of the deceased is the executor. The executor manages assets, pays debts and taxes and distributes assets upon a person’s death. Nonetheless, the role of an executor is about more than administrative duties. Executors have...
What does it mean to put a 5 by 5 power clause in a trust?
As part of their estate planning, people often hand down inheritances to beneficiaries by setting up trusts rather than designating that they receive a specific amount of money or other assets in a lump sum. Often, trusts are established to help ensure that the...
Don’t forget to protect your vacation home in your estate plan
When planning your estate, your vacation home deserves as much attention as any other valuable asset. Vacation properties, especially in attractive locations like Nevada, often carry sentimental value and hold cherished memories for families. However, simply...
