Estate Planning Services in Las Vegas

Knowledgeable Guidance Throughout the State of Nevada

Much of estate planning involves taking proactive steps to protect and manage your assets throughout your lifetime. Several estate planning tools can be tailored to suit your specific objectives in these areas.

Asset protection planning works to shelter and safeguard your wealth and property holdings. Different types of irrevocable trusts can be used to protect financial assets from federal estate taxes and creditors. Revocable living trusts can be modified throughout the trustor’s lifetime and can be used to conveniently hold and manage many types of assets. 

A robust estate plan will implement any inheritances you wish to bequeath. Trusts are highly customizable and can be configured to distribute trust assets upon the trustor’s passing. A last will and testament is an essential component of any estate plan, but the document has inherent limitations and potentially will not facilitate a smooth transfer of assets. To protect planned inheritances, it is often advisable to primarily use trusts. The will can function as a “pour-over will” and “catch” any assets not placed in trusts.

If you run a business, you will also need to consider incorporating succession planning into your broader estate plan. Succession planning considers what will happen to your business if you were to retire, become incapacitated, or pass away. By proactively communicating and implementing a succession plan, you can facilitate a smooth transition that minimizes disruptions to your business’s leadership and operation. 

Our attorney can thoroughly review your asset portfolio and advise what tools will most effectively protect your estate. Our estate planning services in Las Vegas include assistance with the preparation and finalization of all the legal documents you will need to protect your assets, planned inheritances, and business holdings.

Protecting and Managing Your Assets

Do you need succession planning if you own a business?

If you run a business, you will need to consider incorporating succession planning into your broader estate plan. Succession planning considers what will happen to your business if you were to retire, become incapacitated, or pass away. By proactively communicating and implementing a succession plan, you can facilitate a smooth transition that minimizes disruptions to your business’s leadership and operation. 

Our attorney can thoroughly review your asset portfolio and advise what tools will most effectively protect your estate. Our estate planning services in Las Vegas include assistance with the preparation and finalization of all the legal documents you will need to protect your assets, planned inheritances, and business holdings.

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Planning for Incapacity

There is a common misconception that you do not need an estate plan if you are young and healthy. The reality is that a significant portion of estate planning involves planning for incapacity, which can happen to anyone at any time. 

Consider what would happen if you were suddenly unable to speak or advocate for yourself. Who would handle your financial affairs? Who would make medical decisions on your behalf? Creating an estate plan can help you answer these questions and protect you if you become incapacitated.

By appointing a power of attorney, you authorize an agent to make certain types of decisions on your behalf. Medical powers of attorney make decisions about your healthcare, while financial powers of attorney handle your affairs within a scope that you define. You may wish to give your agent sweeping authority to oversee and manage your business assets, or you may prefer that your agent only conduct routine transactions like paying your bills.

Advance directives allow you to provide instructions for your medical care when you are unable to communicate. Your medical power of attorney will typically rely on these directives when advocating for you. You can implement directives that are consistent with your specific wishes. Many people choose to establish directives that address preferences for resuscitation, intubation, experimental or risky surgery, end-of-life care, organ donations, and more.

Our estate planning services in Las Vegas can help you prepare for a wide variety of scenarios involving incapacity. Our team at Battlefront Legal can identify and implement the estate planning tools you need and is committed to providing you with the peace of mind you deserve.


Start exploring your estate planning options today by calling (702) 832-5200 or contacting us online. Our team is available by phone 24/7.


 

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