Estate planning is the act of planning who will receive your assets when you pass away. One goal of estate planning is to make sure that your property and financial assets go to the people you intend. It can also minimize taxes so that your beneficiaries can keep more of your wealth. Proper estate planning reduces stress and gives clear instructions and directives for the end of your life, should you become incapacitated. We are honored to assist clients with all of their estate planning needs in Las Vegas, Nevada, and the surrounding areas of Clark County and San Bernardino County, California.
What Happens if Someone Fails to Establish an Estate Plan?
Regrettably, many people do not establish an estate plan. There are even myths that a person needs significant wealth to create an estate plan, although almost everyone could benefit from the process. One of the reasons is that estate planning may reduce the probate process for your beneficiaries.
In the simplest of terms, probate is merely a legal process that your estate goes through when you pass away. During this legal proceeding, the court will determine the distribution of your estate to the correct heirs. Probate is always easier for your family if you have a will or a living trust that clearly states your wishes. Documents like this facilitate the procedure by naming your beneficiaries and the executor, the person tasked with overseeing your final wishes.
What Happens During Probate?
Probate is a court-authorized proceeding that authenticates your will and approves the person named as an executor.
The probate process becomes more complicated in intestate cases when the deceased failed to create a will. It can also become more lengthy or costly for your family to determine. In that case, it is the court’s responsibility to appoint someone to represent the estate. Certain assets and properties in an estate will always go through probate. However, the assets contained in a trust will not.
When is the Probate Process Necessary in Nevada?
If you properly plan your estate, it is possible to go through a simplified version of probate or avoid it altogether. The more planning that is done now with a knowledgeable estate planning attorney, the better off your family and loved ones will be. However, we understand not everyone properly prepares for the worst.
If your loved one passed without a will, everything they own will go through probate court. If your deceased loved one’s assets are stuck in the courts, our compassionate and dedicated attorneys can help you navigate the court systems during this difficult time. We understand the last thing you want to deal with while grieving for a loved one is legal issues. Our attorneys can lessen your burden as we assist you in Las Vegas, Nevada, and the neighboring areas of Clark County and San Bernardino County, California.
Schedule a Free Consultation
Our attorneys understand the federal and local laws in Nevada and California and know how your estate will be inventoried, dispersed, and taxed after you pass on. We take the time to educate you on all of your options and work collaboratively during the entire estate planning process. We can also provide assistance if your loved one’s legacy is tied up in the probate court. At the Law Office of Kevin R. Hansen, we are with you every step of the way. Schedule a free consultation today.
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