Estate Planning: Your Gift to the Future
Estate planning is a vital part of your future. According to Nevada law, an estate is generally defined as being your net worth — not just everything you own, but any debts or liabilities you have at the time of your passing. Estate planning is complex, but it can be easier with the advice of an experienced estate lawyer.
More Than Just Assets
An estate plan begins with an accounting of assets — the property, financial investments, or valuables you own, including rights to intellectual property. It also takes into consideration any mortgages, outstanding loans, or debts that need to be accounted for. Estate planning goes beyond counting assets and subtracting liabilities. Clients need to make important decisions regarding health care. Many personal beliefs limit or restrict types of medical interventions or end-of-life decisions. Estate planning helps clients make their wishes known long before the need arises.
Duties of an Estate Planning Attorney
In addition to helping develop a will that allows you to pass on your property to family, friends, and loved ones, estate planning attorneys create a variety of trusts. Living trusts help clients’ inheritors from experiencing the (often) painstaking process of probate. Estate lawyers can also create irrevocable trusts or other kinds of trust to help protect property from being too greatly diminished by estate taxes or creditors — and avoid guardianship of the estate for minors.
A Job for the Experts
Estate law can be tricky to manage by oneself. If a client has property in multiple states, has gone through a difficult divorce, or has recently experienced the death of a spouse or family member, his or her estate may be more difficult to administer legally. No one wants important decisions to encounter roadblocks, obstacles, or paperwork due to an incorrect interpretation of estate laws. In cases such as these, it’s important to call the offices of Sean Tanko, an estate planning lawyer in Las Vegas that residents respect and trust. Get the help you need before you need it.