We all reach a moment in our lives where we must ask ourselves a difficult question: "If something were to happen to me, would my family be protected?" The answer to this question lies in the proper planning of one's estate. While many believe the subject of wills or trusts is best left until old age, the truth is, having an estate planned can protect a person's family and save them a large degree of legal complications should anything happen. Speaking with a Las Vegas Estate Planning Attorney today could be very beneficial.
Dealing with the complex estate laws in Nevada can be stressful especially while a person is grieving the loss of a loved one. Estate planning can reduce the amount of stress and uncertainty that will result at the end of a person's life. Depending on your needs, planning an estate can include:
Setting up a Will:
- Last Will and Testament
- Living Will
- Pourover Will
Establishing a Trust:
- Domestic Asset Protection Trust
- Offshore Trust
- Pet Trust
- Gun Trust
- Revocable Living Trust
- Irrevocable Living Trust
- Spendthrift Trust
- Trust For Minors
- Special Needs Trust
- Marital Trust
- Irrevocable Life Insurance Trust
Advanced Directives that cover:
- End of Life Decisions (such as burial or cremation)
- Durable Power of Attorney For Healthcare Decisions
For one reason or another, a lot of people do not do their estate planning and failing to do it can harm not only the person but their entire family. For example, if a person becomes hospitalized and on life support, it would be nice for that person's family to know if they want the doctor to "pull the plug" or desire not to be resuscitated. Grieving families can be torn apart by such decisions. Simply put, everyone needs some sort of estate planning when it comes to their end of life decisions because simply telling a family member will not prevent other family members from intervening.
If a person sets up a trust, their estate can avoid Probate Court, which will save thousands of dollars in attorney's fees and could save their estate from going through the probate process, which could last up to three years. Estate planning is an easy way to pass on a person's assets and in this area, an ounce of prevention is worth a pound of cure.
If you have not done your estate planning yet, or it has been a few years since it was done, please call The Jacks Law Group at (702) 834-6300 or contact us online and schedule an appointment.