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Nevada Estate Planning
The majority of adults in Nevada do not have a last will and testament or other basic estate planning tool. But most adults should talk to an estate planning attorney and give some thought to their estate plans. A lawyer can help you review your legal, financial and medical needs, and recommend the estate planning documents that are right for you.
Estate Planning: Not Just for the Elderly
Many people mistakenly assume that only the elderly need to think about estate planning. Nothing could be further from the truth. Let's look at how other adults can also benefit from estate planning.
First, anyone with an estate can benefit from having a last will and testament or living trust. Your estate is made up of the things you own that have value, and can include your home, car, bank accounts, retirement savings and personal possessions. A will allows you to explain how you'd like those assets to be distributed after your death, and also allows you to name an executor or personal representative to manage your estate and carry out the instructions in your will after you die. A living trust is an alternate way of distributing your assets and allows your estate to be distributed more quickly and more privately than a last will and testament.
Parents of minor children also need to think about estate planning as it relates to their children. A last will and testament can also be used to name a guardian for your minor children in the event that both parents die before the children turn 18. Parents should also talk to their estate planning attorney about setting up a trust to support their children if both parents die.
Anyone who's concerned about their own medical treatment will want to create a healthcare power of attorney and living will. A healthcare power of attorney allows you to designate a surrogate who can make medical decisions on your behalf if you're incapacitated and unable to communicate. And the living will is used to explain your end of life treatment wishes.
Almost everyone can benefit from having a power of attorney, which lets you authorize another person to take legal and financial actions on your behalf. The power of attorney can be as broad or as narrow in scope as you'd like. You can empower someone to pay bills on your behalf if you're incapacitated or sign a legal contract on your behalf if you're unable to do so in person.
Find & Hire Local Nevada Estate Planning Attorneys
Attorneys.com offers a free lawyer referral service that can connect you with estate planning lawyers and probate attorneys across Nevada, including lawyers in Las Vegas, Henderson and Reno. Complete the form on this page today or call us at 877-913-7222. We'll ask you a few basic questions, then match you with an attorney in your area.