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An effective estate plan is the best way to protect your assets, reduce tax obligations, avoid probate, and provide financial security and peace of mind to your family. For over twenty years, Drizin Law‘s estate planning attorneys in Las Vegas helped families in Nevada ensure their final wishes are followed and inheritances are properly disbursed without complications, unnecessary drama, or hefty probate fees.
Many people think estate planning is just for the wealthy, but any reputable estate planning attorney in Las Vegas will tell you that wills or trusts can be executed for estates of all sizes.
The Intestate Laws of Nevada will be applied to your estate if you fail to execute a will or trust. Your property may be inherited by your spouse or if you have no spouse, given to your child/children. If you have no spouse or children, your parents or siblings may be the ones to inherit your estate.
Your estate planning lawyer must be able to explain this in detail. To make it simple:
- A will is a written document that becomes effective upon your death. You can revoke or change your will during your lifetime. In your will, you can name the beneficiaries that will inherit your assets.
- A trust is a document that outlines how you wish to distribute your assets. Unlike a will, your real property and investments can be placed inside the trust. The trust document governs who has access to the trust assets.
Yes, on the other hand, if you elect to set up a Nevada trust, you can effectively transfer your real estate property into the trust and can avoid the probate process.
Many couples elect to hold property as Joint Tenancy with rights of survivorship. In this way, if your spouse dies, the property would automatically transfer to the living spouse.
However, there are some significant drawbacks to titling real property this way.
Yes, our estate planning attorneys recommend executing a healthcare power of attorney which designates an individual that you trust (the “healthcare agent”) to make healthcare and medical decisions on your behalf. This document allows the healthcare agent to make decisions about life support, in the event you lose the ability to make decisions for yourself or if you can no longer speak for yourself.
Anyone could experience a sudden accident or a serious health issue and not be able to speak for him or herself. It is particularly important to make clear, in writing, what your desires are should the time come when you are unable to communicate them yourself.
You can trust our estate planning attorney in Las Vegas to help you with your estate plan and avoid any difficulties.
Probate and estate planning attorneys practice in the same area of law, but they perform distinct roles. Probate attorneys help the executors of the estate to manage the probate process whether you have a will or not.
An estate planning lawyer works with clients to plan for how their estate will be managed in the event of the latter’s demise and to make sure that the assets will go to the right people. This entails the preparation of revocable living trusts, wills, and other important estate planning documents.
You need estate planning if you want to make sure that your estate is managed the way you intend to even after you die. Without a will or trust, the intestate laws of Nevada will be applied to your estate.
This means your spouse will inherit your community property, but children will receive two-thirds of your separate property. If you don’t have a spouse, your children/child will receive all the assets. Parents or siblings are third in line in acquiring your estate if you don’t have a spouse or children.
When choosing the right Estate Planning Attorney in Las Vegas, you can ask a series of questions., like:
- Do you specialize in estate planning?
- How long have you been practicing?
- Do you execute the plan? In your expert opinion, how can I best manage my estate taxes?
- How do you charge for your services?
If the answers to your questions are satisfactory for you, they’re the right Nevada estate planning lawyer for you.
The cost of a Las Vegas estate planning lawyer can vary widely depending on the lawyer’s experience and expertise.
Estate planning attorneys typically charge using one of these two methods:
- Flat fees
- Fees based on hourly services
Several estates planning lawyers charge flat fees instead of billing by the hour, while some do both. This means they charge a fixed rate for the standard services and an hourly rate for the additional tasks.
Drizin Law’s Las Vegas Estate planning attorneys have been helping families in Nevada fulfill their final wishes. We make sure that inheritances are properly disbursed and given to the right people. Aside from helping you manage your estate, we’ll also help you fiscally prepare for the possibility of disability, dementia, or other instances that may deem you unable to manage your estate. This entails drawing up powers of attorney, healthcare directives, and living wills.
Drizin Law’s estate planning lawyers recommend executing a healthcare power of attorney that will designate a trusted individual to make life decisions on your behalf such as life support in the event that you lose the ability to make decisions or can no longer speak for yourself.
For over twenty years, we’ve been helping clients draft important documents needed for thorough estate planning and making the execution as smooth as possible to help families in their difficult times.
Your important decisions deserved sound, competent legal advice. To find estate planning lawyers near you and to learn more about Las Vegas Estate planning law, contact Drizin Law firm today.
– James ★ ★ ★ ★ ★
I live in Hawaii and my relatives became ill in Las Vegas. Not knowing many people here, I reached out to a friend who recommended Mr. Drizin. Because my aunt was so ill, Mr. Drizin took the time to come to the hospital to work out a trust, will and POA for both my aunt and uncle. He was professional at all times and always put their interests first. My uncle commented “he actually has a heart, I feel like he really cares about us ” and we were able to complete the trust and move all the funds into it so my uncle was protected. I would without hesitation recommend Mr. Drizin to anyone in need of an attorney specializing in wills or trusts. Five stars across the board!