Law Firm Prepared To Handle Your Estate Planning Needs

One of the reasons some people delay their estate planning is the complications involved. People have multiple and varied properties, investments, retirement accounts and real estate holdings, possibly in multiple jurisdictions. Although these complications can present challenges, they make it all the more important to handle your estate planning as soon as possible. Without an adequate estate plan, there’s no telling how a judge might dispose of your property in probate.

The attorneys of south Nevada’s Kerr Simpson Attorneys at Law help clients create comprehensive estate plans. The firm’s lawyers have decades of combined experience and a wealth of knowledge handling everything from simple wills to the most complex portfolios involving diversified holdings. Clients in Henderson and throughout south Nevada trust in the firm’s knowledge and experience in complex estate planning and estate litigation.

Estate Planning For Everyone

The attorneys of Kerr Simpson Attorneys at Law understand that everyone comes from different backgrounds and has different goals for estate planning. The firm is uniquely equipped to represent people from all backgrounds and walks of life.

Attorney Preston S. Kerr speaks Cantonese Chinese; Taylor L. Simpson speaks Mandarin Chinese; Peter R. Pratt speaks Portuguese; and Austin J. Kalmes speaks Spanish.

The firm works with people from all backgrounds and tax brackets to create comprehensive estate plans that transfer:

• Real property, including local, out-of-state and international
• High-value property, including collectors’ items, memorabilia, jewelry and art
• Retirement plans
• Investments

The firm handles cases in Nevada, California and Utah. Do not trust the transfer of your wealth to an inexperienced attorney and do not try to handle your estate plan on your own.

Estate Planning FAQs

Understanding the components, such as wills, trusts and intestate succession, can help ensure your assets are appropriately managed. Below, there are answers to some frequently asked questions.

Do I really need to create an estate plan in Nevada if I am not wealthy?

Yes. Estate planning is not just for the wealthy. Estate planning is about distributing your property, personal belongings and other assets according to your wishes.

Without an estate plan, the state of Nevada will decide who gets your assets, which may not align with your preferences.

What is the difference between a will and a trust?

A will outlines how your assets should be distributed after you pass away and can name guardians for minor children. However, it goes through probate, a court-supervised process that can take time and incur costs. The estate may go through commercial probate if it includes business interests or complex assets.

On the other hand, a trust allows you to transfer assets while you are alive and manage them for beneficiaries after your death. It also avoids probate and can save on your estate taxes, offering privacy and quicker distribution of assets.

What does intestate mean?

When someone dies without a valid will, they are said to have died intestate. In Nevada, if you pass away intestate, your assets will be distributed according to state laws, which may not align with your wishes.

This process involves the court determining how your assets are divided among your closest relatives.

What are some common examples of trusts?

Common types of trusts include:

• Revocable living trusts: They allow you to control your assets during your lifetime and make changes as needed.
• Irrevocable trusts: They remove assets from your estate to protect them from taxes or creditors.
• Special needs trusts: These are often created to provide for loved ones with disabilities.
• Charitable trusts: These can direct assets to charitable organizations.
• Spendthrift trusts: They protect beneficiaries from squandering their inheritance by limiting their access to the trust’s assets.

Each of these trusts serves specific purposes, making it vital to choose the right one based on your financial and personal situation.

Contact The Firm

Passing on your wealth, planning for your late-life health care and creating a lasting legacy require the help of an experienced, trusted legal team. Call Kerr Simpson Attorneys at Law at 702-608-0835 or 800-745-8826 toll-free. You can also contact the firm online.