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July 2014 Archives

Nevada residents of all ages need to think about estate planning

Many people put off estate planning under the disillusion that they are either too young or they do not have a valuable estate worth the time and money it takes to venture into the estate-planning process. However, everyone in Nevada should understand the purpose and importance of estate planning. Regardless of age or size of estate, there are certain documents everyone should consider having drafted.

Estate planning mistakes can have negative consequences

When people are going about their daily business, they may not be thinking about estate planning. However, thinking about estate planning is essential for adults of all ages who have assets they’d like to pass on to other people in the event of their death. Several tips can help people in Nevada to avoid some of the most common pitfalls of estate planning.

People question Lou Reed's estate plan now that it is public

It is not uncommon for the news to report on the life, times and death of the rich and famous. When Lou Reed died, the famous musician naturally made news in Nevada and across the country. Now, he is making news again; not for his music, but for how his estate plan was handled -- namely questions about why he didn't have a trust instead of a will.

Estate planning in Nevada isn't a one-shot deal

The process of estate planning is essential for the protection of assets and beneficiaries. Most people consider it a job-well-done if they have taken the steps necessary to say they have tackled their estate planning needs. However, Nevada residents should realize that estate planning isn’t a one-shot deal and needs to be addressed more than once.

Nevada families may be aware of estate administration problems

The process of leaving assets and funds to loved ones may get more complicated than families expect. Even if Nevada families go through the proper processes and ensure that everything is handled when it comes to estate planning, the estate administration process can be bumpy due to debt. Any families concerned about debt may want to investigate what role debt may play in the estate-planning process.

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