Estate planning written on paperThis is the first post in a series of articles which will discuss estate planning for Las Vegas residents. It is important to understand how a proper estate plan can ensure your wishes are met in the event of your incapacity or death. The probate process can be intimidating and stressful, especially after the death of a loved one. The goal of this series is to provide information which will assist individuals in completing thorough estate plans. It is also our goal to provide information which will assist with the selection of a probate attorney. If you or a loved one are in need of assistance then contact our office today to speak with a lawyer.

We will be addressing a number of topics over our coming articles. Issues which we will address include:

  • The importance of having an estate plan
  • The requirements for a valid will under Nevada law
  • Nevada‚Äôs requirements for a valid power of attorney
  • The need for a living trust
  • Understanding which assets pass outside of probate
  • The need to retain an attorney to assist you

We chose to address these topics for a number of reasons. First, the default laws of your state will apply and determine how your assets will be distributed if you do not create an estate plan prior to your death. If you do not create a will and you pass away, it is called dying intestate. Nevada intestacy laws may not be consistent with your wishes. Second, it is crucial to understand the legal requirements for a will in our state. Your will may not be admissible in court if you do not follow the required formalities. Third, Nevada has specific laws regarding the contents of a power of attorney. In order for a loved one to make financial decisions for you if you are incapacitated, it is important your power of attorney is in compliance with those requirements. Fourth, choosing to create a living trust can provide you and your family with many benefits. These include avoiding probate administration and providing for asset protection over your inheritance for your loved ones. Next, most people do not understand which assets must be distributed through probate and which assets will avoid probate. Assets that pass by beneficiary designation or right of survivorship will avoid probate. However, these distributions may not be consistent with your overall planning objectives. Lastly, it is important to retain an estate planning lawyer to understand the complexities of this area of the law. Experienced counsel can guide you through the necessary decisions and make recommendations based on your unique family dynamics or wishes.

A point we will be stressing in each of the articles in this series is the importance of retaining an attorney to help you prepare your estate plan. A lawyer will ensure all legal implications are considered and your goals are incorporated into your plan. Having counsel will also ensure your documents are drafted correctly, are binding and can withstand challenges. Our firm is experienced in estate planning and probate matters. We are here to help you navigate through your options and to create a thorough estate plan to give you peace of mind. If you need a Las Vegas estate planning attorney, contact us today online or by phone to schedule an initial consultation.