Joint Tenancy Disasters

Some advisors recommend using joint tenancy rather than a Las Vegas Living Trust as a method to avoid probate.  If property is held jointly and one of the owners dies, the property may pass to the surviving owners by “operation of law.”  Jointly-held assets create unintended consequences and should be avoided. Let’s suppose you are single and you have three ...

When An Older Woman Marries Older Man

Often I write about the dangers to your family if you marry a “Gold Digger” if your spouse dies.  Without proper planning, a remarriage can dramatically alter the disposition of your assets when you die.  In community property states, like Nevada, any assets acquired during the marriage are presumed to be community property such that if there was a death, ...

Online Living Trust Disaster

A woman who attended one of my Living Trust workshops came to see me with two trusts that had been formed for her by an online form company.  She paid approximately $500 for each of the trusts.  This company claimed they could prepare Living Trusts and that you don’t need an estate planning attorney to help you.  Nothing could be ...

How Are Assets Transferred After Death?

After a person dies, what happens to their assets? If you have recently lost a loved one, you may be wondering how their assets will be transferred to family members and other heirs. Understanding this process can help during a time of grief, as it can otherwise be overwhelming and needlessly stressful. Know that if desired, a probate or estate …

Avoiding Living Probate and Death Probate

Death Probate is a legal proceeding to settle the estate of a person who has died. It includes appointing an executor/executrix, settling with creditors and dividing the assets among your beneficiaries. Living Probate is a term that was coined to describe a conservatorship or guardianship proceeding if a person has lost their mental capacity. Both Death Probate and Living Probates ...

5 Important Things to Know About the Probate Process

The probate process can be difficult to navigate. Often, people are confused about what happens when an estate enters the process of probate. Who takes care of the taxes, paperwork, appraisals, and distribution of the assets? The information below contains important facts to keep in mind when dealing with probate. Executor The executor of a will is either named in ...

The importance of an employee’s handbook in a slip and fall accident

Many lawyers don’t take slip and fall cases for a variety of reasons: (1) liability may be hard to prove, (2) the amount of damages may direct their attention elsewhere, and (3) they mistakenly believe that conservative juries will turn them away with little to no recompense for the medical expenses, lost wages, and other damages for injuries incurred. Obtaining ...

What is Estate Planning?

Estate planning is the process of preparing your assets for your death or incapacity. It can also include planning for taxes and creditors. Your estate is simply anything that you own. An estate planning attorney prepares living trusts, living wills, powers of attorney, wills, advance directives, post-nuptial agreements, health care powers of attorney, and the Nevada Asset Protection Trust. Why ...

Out-of-State Trusts Need Updated

Many folks have Living Trusts that were formed in California or another state before moving to Nevada.  These trust documents should be updated to avoid what is known as "conflicts of laws".  A Living Trust attorney forms trusts to avoid probate, but when a Living Trust is formed in another state, you are much more likely to need a court order ...

What is Wrong with Estate Planning?

Estate planning is the process of preparing your assets for death and possible incapacity. It also includes planning for estate taxes. The primary tool used for estate planning is the revocable living trust. This is supplemented with a will, financial powers of attorney, and health care directives. While these documents are important, document preparation firms have turned the documents into ...