When someone is faced with the possibility of their death, or for a time when they can no longer handle their own affairs, it’s not surprising that they tend to shy away from these arrangements. Nobody likes to think about these things, but for a person that has significant amounts of assets, or who has people that they will leave behind, such as a spouse or children, planning ahead for these eventualities is important. Things such as asset protection, trusts and wills in Las Vegas, NV, all need to be considered regardless of how much money a person may have.
Most people think that having a will is a good way to prepare for these eventualities. While a will is important, there are other things that can make the situation a bit easier to deal with.
Many people choose to protect their assets from probate through living revocable or irrevocable trusts. One of the reasons why avoiding probate is so important is because the probate process can be very expensive and lengthy. To prevent a person’s estate from going through the probate process, trusts that are established ahead of time make the most sense.
These trusts can be placed in the hands of a trustee where the person can name themselves as their own trustee until such time as they pass away, or they become incapable of handling their own affairs. At this point, a predetermined secondary trustee will take over.
However, in order to ensure that the trusts and a person’s last will and testament are as complete as possible, it’s important to speak with attorneys that handle trusts and wills in Las Vegas, NV. These attorneys will be able to create comprehensive documentation that will cover a person’s entire estate. They will also ensure that all documents are compliant with any laws existing in Nevada concerning wills and trusts.
Because of how difficult a time it can be, the passing along of assets to beneficiaries, as well as minimizing taxes on an estate, are important. That’s why consulting with an attorney like Grant Morris Dodds makes the most sense. If you want to plan your estate now, you can contact these attorneys by phone, or you can simply go online to to learn more about their services.
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