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November 2012 Archives

Spiritual estate planning a growing trend in Nevada

Estate planning takes different forms for many people attempting to accomplish this goal in Nevada. For some, the need to pass on their values as well as their assets is strong. For such people, a new trend of spiritual estate planning may be appealing. This type of estate plan allows an individual to make their values known along with the distribution of their assets.

Nevada estate planning may include pets

In the wake of recent weather-related disasters such as tornadoes in the Midwest and Super Storm Sandy on the East Coast, many in Nevada and elsewhere may be considering whether they have appropriate estate plans in place to deal with such disasters. For some, this reconsideration of estate planning includes putting documents in place that will deal with a pet should its owner be unable to care for it. Such documents were once regarded as being only for the rich, but now some authorities note that many people are planning for the care of their pets.

Nevada estate planning could include sale of family business

Readers in Nevada may be interested to learn that the heirs of George Lucas, famed director of the Star Wars movies, may have avoided potential tax problems and planning issues over his high value estate recently. This may be because the director recently sold his movie business for more than $4 billion dollars to Disney. The sale was made in stock and cash and is a part of an estate planning move that may have been designed to limit some taxes.

Nevada estate planning could benefit from use of trusts

Many people in Nevada and across the nation believe that they do not need to create an estate plan because of the relative small size of their estate. However, those folks may be surprised to learn that the amount of savings they can achieve in taxes by creative estate planning could be considerable. One reason for such estate planning is due to the fact that the estate tax exemption will return to the relatively low figure of $1 million in 2013 without Congressional intervention.

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