There are several types of property which can pass to heirs without the need for probate after one has passed away. These include certain real estate and accounts. By properly titling such items, and naming beneficiaries, you can save your heirs the stress and aggravation which accompanies the probate process. Sometimes, however, problems arise when your plans have unintended consequences or are otherwise out of date. Retaining an experienced estate planning attorney can be helpful to making sure such problems do not surface. Nikki Dupree-O’Brien is a Las Vegas lawyer who assists with jointly owned property as part of creating a larger estate plan. Our firm strives to provide a high level of service. Contact our office today to get started.
Las Vegas lawyer helping to avoid probate disputes through the proper use of joint accounts, gifts, & exempt assets
Property can bypass probate in Nevada if it is of a certain type. These circumstances include joint accounts and real estate that is jointly owned with rights of survivorship. The making of gifts can also be a method for avoiding probate as can the naming of beneficiaries for certain types of accounts (such as bank accounts and investment accounts). With these types of assets, ownership is transferred by completing requisite paperwork with a title agency, a bank, or other applicable institution. This means that the person receiving the property can bypass probate altogether in regards to those assets. It also means that, through careful planning, an estate can be structured so that many of the assets can pass with relative ease.
If one wishes to utilize joint accounts, jointly owned property, or gifts to avoid probate then it is important that they consider any potential unintended consequences. Such consequences may include someone granting joint ownership over property for the purpose of the second person being able to serve as a caregiver. After death, however, the person who received ownership may now own the assets outright and they may have no obligation to distribute property to the deceased’s family members. The best way to avoid such consequences is to ensure that any use of joint accounts, gifts, etc. are part of a broader estate plan. An experienced attorney will assist you in understanding the full ramifications of any such actions.
Our Las Vegas estate planning lawyer will assist you with ensuring that assets bypass probate where possible. Nikki Dupree-O’Brien has been practicing law since 2008 and will use your initial consultation to gain an understanding of your goals. Nikki will then help you to identify all assets which can possibly bypass probate and will advise you on whether it is advisable to do so. She will help you to ensure that all of your assets are properly titled, that all of your beneficiaries are properly named, and that all of your affairs are otherwise in order. Our firm understands that no two situations are the same. This is why we will approach your matter with a focus on determining what helps you to further your overall objectives. We understand that these are important decisions and our office will give your matter the attention it deserves. Contact us today to schedule an appointment.
Attorney helping Las Vegas residents to integrate joint accounts and jointly owned property into their estate plan
A comprehensive estate plan can help Las Vegas residents to avoid probate, to reduce taxes, and to prevent disagreements between the surviving heirs. There are several elements which go into an estate plan. These include the creation of a last will and testament, the formation of a living trust, and establishing a power of attorney. Nikki will assist in each of these areas as part of her services. Moreover, our firm will assist with future changes to ensure your estate planning documents are kept up to date as circumstances change. Nikki handles all matters in our office personally. This means that you will be dealing with our managing attorney and not an associate. A high level of service is our promise to each and every client we assist.