Become an expert on the probate process & which administration applies to your situation. There are many ways to avoid the probate process, most of which would require preplanning. There are some options post mortem but as with any legal process, it is always in your best interest to seek competent counsel....
Continue readingNevada historically has been considered a favorable jurisdiction for forming and maintaining a trust. As one of the first states to pass legislation permitting the self-settled spendthrift trust, or domestic asset protection trust (“DAPT”) as it is sometimes identified, Nevada offers cutting edge laws in the areas of trust formation and administration. ...
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Most of us have been there, cruising along in life without responsibility. Maybe we are married, but, hey, she/he was fine without me before we were married, so who needs to plan. And maybe you are right. But that all changes when that first child comes along. ...
Continue readingDuring the 2011 Legislative Session the Nevada State Legislature passed Senate Bill 221. A major provision of SB 221 was the enactment of the Independent Administration of Estates Act, hereafter the “Act.” The Act became effective October 1, 2011, and is codified in Nevada Revised Statutes (NRS) 143.300 et al....
Continue readingThe choice of marital deduction funding formula can affect the revocable trust in many ways. ...
Continue readingTrust agreements can terminate for any number of reasons. Following are several explanations of why a trust might end, come to its conclusion, and be terminated…...
Continue readingWe often receive calls from persons who have been informed of the death of a parent, and as is natural, the child of the deceased parent wonders if he or she has a right to any portion of his deceased parent’s estate. Our usual response is, “That depends.” ...
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Since 2005, Nevada has been one of only a few states which provides for a special type of limited liability company (LLC) known as the Series LLC. One method for protecting assets from misfortune associated with other assets is to segregate assets into separate legal entities....
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Get answers to some of the more commonly-asked California state income tax questions associated with changing residency from California to Nevada....
Continue readingDo you ever wonder what might happen to your pets if you were to be suddenly unable to care for them?...
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