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The Importance of Estate Planning

Securing Your Legacy for Generations to Come

“The future belongs to those who prepare for it." - Jim Moran

How prepared do you feel for the future? Taking small steps today can have a profound impact for you and your family's future. As estate planning attorneys, our mission is to help individuals plan for the future, ensuring their families are taken care of and providing them with peace of mind.

We have witnessed numerous families endure unnecessary challenges because they were unprepared. Even if you have a will, it's crucial to understand what happens if you don't have a comprehensive estate plan. In this blog, we'll explore insights into preserving your legacy, ensuring your wishes are honored, protecting your loved ones, and leaving a lasting impact.

How do I preserve my legacy?

Begin by creating a comprehensive list of your assets. Estate planning allows you to maintain control over how your assets and belongings are distributed after your passing. By crafting a clear estate plan, you can minimize conflicts among beneficiaries and ensure that your hard-earned wealth benefits the people and causes that matter most to you.

What are steps that I can take to protect my loved ones?

Estate planning goes beyond distributing assets. It enables you to make crucial decisions regarding guardianship for minor children, care for dependents with special needs, and the appointment of a trusted person to make medical or financial decisions on your behalf if you become incapacitated. By addressing these important matters in advance, you can provide your loved ones with peace of mind during challenging times.

How do I minimize taxes and expenses so my wealth is distributed to my family?

Proper estate planning can help reduce the burden of taxes and expenses on your estate. Various strategies, such as setting up trusts or making gifts, can minimize estate and income taxes and ensure that more of your wealth is passed on to your beneficiaries rather than the government.

How do I avoid probate?

Probate is a legal process that validates a will and oversees the distribution of assets. It can be time-consuming, costly, and subject to public scrutiny. However, with a well-crafted estate plan, you can minimize the need for probate and maintain the privacy of your financial affairs.

What happens if I become unable to manage my finances?

No one likes to think about the possibility of incapacitation, but it's important to be prepared. Through estate planning, you can establish powers of attorney, healthcare directives, and living wills that outline your wishes regarding medical treatment and end-of-life decisions. By doing so, you retain control over your own affairs and alleviate the burden on your loved ones during challenging times.

How do I take the first step?

Preparing for the future is easier than you think. Please reach out today and let's connect about protecting your loved ones, preserving your legacy, and gaining peace of mind knowing that your affairs are in order. Our expertise lies in simplifying the complex process and creating a tailored plan that suits your unique circumstances.

Beware Nevada’s Transfer-on-Death Deed

Posted by Laura E. Stubberud | May 06, 2021 | 0 Comments

Since 2011, property owners in Nevada have been able to transfer real property at death with a  transfer on death deed that was recorded prior to death. After the death, the beneficiary  named in the deed merely files an Affidavit of Death of the Grantor along with a death  certificate and, voila...

You Have A Trust – Now What? You Have to FUND it!

Posted by Laura E. Stubberud | Jan 06, 2020 | 0 Comments

You made a trust and with it a will, financial power of attorney and advanced health care directive. You may even have signed a deed and other supporting documents. Hopefully, your attorney spent considerable time with you going over the trust and explaining what to do next. As he or she was disc...

Wills – Should You Do-It-Yourself?

Posted by Laura E. Stubberud | Sep 30, 2019 | 0 Comments

Believe it or not, I get a lot of questions about creating a will from a prepackaged program, online, or even by yourself.  Is it good enough to do it by yourself, without legal counsel?  In most cases, I would say an undeniable and emphatic “NO”!  A will is a set of instructions that direct how ...

What is Probate and Why Should You Avoid It?

Posted by Laura E. Stubberud | Sep 30, 2019 | 1 Comment

Probate isn't always bad, but most of the time, it is a waste of money and time.  Probate is a court supervised legal process whereby the court makes sure your debts are paid and any remaining money or assets distributed to those people entitled to them.  What this means is that if you don't plan...

Trusts in Estate Planning – Do You Need One?

Posted by Laura E. Stubberud | Sep 30, 2019 | 0 Comments

Think of a trust as a box in which you put your property; your house, boat, cars, bank accounts, etc.  Trusts serve several purposes: 1.  Avoid probate; 2.  Avoid or eliminate estate taxes; 3.  Guardianship in the event of incapacity; 4.  Continuity of asset management; and 5.  Asset Protection M...

Nevada Domestic Partnership – Is It Right For You?

Posted by Laura E. Stubberud | Sep 30, 2019 | 0 Comments

Effective October 1, 2009, Nevada became one of only a handful of states that recognize a type of civil contract called a domestic partnership.  Under this law, domestic partners, same-sex or otherwise,  have the same rights, protections, benefits, responsibilities and obligations as spouses.  Bu...

Estate Planning 101 – What is an Estate Plan

Posted by Laura E. Stubberud | Sep 30, 2019 | 0 Comments

When most people hear “estate plan” they have no idea what that means.  I always hear “I don't own any property” or “I don't have children, why do I need an estate plan?”  I tell them that an estate plan is not about today, but the future you are building for yourself and your family.  Don't you ...

Convincing Your Parents to Plan for Elder Care

Posted by Laura E. Stubberud | Sep 30, 2019 | 0 Comments

I've discussed this topic before, but it is becoming more important in an aging society.  As our parents age their physical deterioration may be obvious, but it is easy to ignore, or for them to hide, mental deterioration.  So, how do you as a child assess whether your parent needs help?  There a...

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