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January 2013 Archives

Nevada residents should value their assets before death

There are many different aspects to estate planning. Some commonly used estate planning tools include a will or trust. With such a document, a Nevada resident can detail how he or she wishes to distribute their assets upon death. In addition, a will can be used to make specific bequests to heirs and beneficiaries.

New rules affect estate planning in Nevada

The recent fiscal cliff negotiations in our nation's capital made the headlines in Nevada and across the country. At the end of the ongoing process, Congress enacted the American Taxpayer Relief Act of 2012 (ATRA). This Act encompasses several laws that may be of interest to readers in our state seeking to begin estate planning.

Nevada estate planners may enjoy permanent tax amount

As many readers in Nevada know, recent discussions in the national government have been contentious as Congress sought to avoid the fiscal cliff. One of the most important issues to those considering planning an estate has been the estate tax that was set to adjust at the start of the new year. As we have discussed before in this column, under the Bush tax cuts the estate tax was set to revert to the 2001 level of a $1 million exemption.

Pets can be included in Nevada estate planning

There are many reasons that people in Nevada seek to create an estate plan. For many, the desire to ensure that their families are cared for after their deaths impels them to begin the estate planning process. Some wish to appoint guardians for minor children. Increasingly, however, some people are now seeking to make arrangements for family pets.

Nevada estate planning may require review as tax changes occur

As we mentioned in our blog post on Dec. 21, 2012 ("The estate and gift tax exemptions are going up. What does it mean?"), many readers in Nevada are aware that the estate tax is set to change when the calendar year rolls over to 2013 unless Congress takes action. In fact, this may be one of the driving factors for some in our state to consider estate planning. Many people, one report says, are beginning to look to tools available to assist them with getting hit too hard by this tax increase.

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