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April 2013 Archives

Nevada estate planning includes the use of many available options

There are many reasons that people in Nevada enter into the estate planning process. In many cases, they turn to commonly used tools such as wills and trusts as they begin estate planning. However, one recent article notes that are additional steps to be taken to ensure that all of the wishes of an individual are expressed as to how and what they wish to have done when they die.

Estate planning for the digital age

Estate planning has taken an interesting turn as culture shifts towards greater digital dependency. Entire lives are documented through photos, emails, and social network sites. This brings an interesting question to light for Nevada readers in the event that one passes away and their digital property is not specifically mentioned in their estate planning. What happens to their digital lives after they are gone?

Potential changes could affect estate planning tools in Nevada

As our readers who are familiar with this column know well, there are many tools available to those seeking to protect their assets from the federal estate and gift tax. Some in Nevada were particularly happy when the American Tax Relief Act was enacted early this year because it established a specific amount that is subject to federal estate tax following an individual's death. Now, the same people are concerned about potential changes to the estate planning laws regarding the taxation of trust assets.

Nevada trust administration: Avoid probate with a living trust

Many people in Nevada are aware that there are important reasons to enter into estate planning. These include the limitation of costs for an estate and the desire to avoid the probate process. Some may consider creating a trust that can be used both while an individual is alive and after their death. In fact, a trust administration after an individual's death can allow an estate to avoid probate all together.

Estate planning in Nevada includes the use of diverse tools

Estate planning in Nevada is important to many people for many different reasons. The reasons that people begin the estate planning process include the need to distribute assets to their heirs at the time of their death, as well as the desire to ensure that they are cared for when they are unable to care for themselves. Each of these can be achieved through the estate planning process.

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