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Estate planning in Nevada can include long-term care

Estate planning in Nevada often means many things to different people. Some seek to ensure that their assets are distributed as per their wishes after their death. Others use available estate planning tools to plan not only for distribution of assets after death but also for potentially necessary medical issues that can strike an individual and cause them to be unable to care for their own estates.

In a recent report, authorities noted that women are among the least likely in Nevada and across the nation to plan for a potential issue that could cause them to be unable to care for themselves. In a study completed by a large organization that polled 2,516 adults, 30 percent of the female respondents indicated that they were unsure how to plan for long-term care. Many more of the women than men who responded, however, understood the need to plan.

Using estate planning tools, an individual in our state can appoint an individual to care for their estate should they no longer be able to on their own. In addition, there are there long-term care needs that can be considered in estate planning documents. These include financial planning intended to ensure that a person completing a plan will have the necessary funds to pay for needed medical care.

An understanding of all of the available estate planning tools can assist an individual in determining exactly what is needed for their individual situation. The good news for many of our readers is that there are tools that can be customized to fit every need. This means that every aspect of an estate, including potential needs before death and estate distribution after death can be covered by a person's estate plan.

Source: BizTimes.com, "Women less likely to plan for long-term care," Erica Breunlin, Nov. 26, 2012

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