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Wills provide more benefits than just division of assets

Many in Nevada who have begun to plan an estate have learned that there are rules that apply to the construction of a will. This most basic of estate planning tools is used commonly for those in our state who have assets to distribute and guardians to appoint. With this type of document, many of the wishes of an individual can be explained to a person's heirs.

A will in Nevada is governed by state rules. Before beginning an estate planning process, an individual in our state would do well to speak to a legal professional who can help them understand the various regulations. Although it is possible to create a legal will without the help of an attorney, given the importance of the document it is advisable to seek assistance.

A will does more than simply assign assets to heirs. Wills also designate the legal guardians for any minor children- clearly, a very important consideration for parents. In addition, wills note how any outstanding debts will be paid, and clarify any personal wishes for funeral arrangements.

There are many estate planning tools available to those of us in Nevada. These include not only a will but also trusts, medical directives and other documents. When deciding which ones to use, an individual must first review their assets and their wishes for the distribution of their estate. This information may lead them to choose the best available estate planning tool for their individual situation. These efforts can be a tremendous benefit both to the peace of mind of the person creating the estate plan and for their potential heirs.

Source: theadvertiser.com, "Wills are always necessary, regardless of assets," Mary Fox Luquette, Nov. 23, 2012

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