Patricia A. Trent Trusts and Estates Law Blog on Lawyers.com

Planning Ahead for your Estate

Wednesday, March 7, 2012 by Patricia A. Trent

Help with estate planning in Las Vegas

Estate planning is the process of making decisions about your future based on sound financial and legal advice. The decisions you make will determine the handling of your own health care at the end of your life, and the distribution of your possessions, property, and assets when you pass away.

Good advice is crucial to effective estate planning. Professionals who typically assist with estate planning in Las Vegas include estate planning, elder law, and probate attorneys, chartered financial planners (CFAs), and certified public accountants (CPAs).

When ready to consult with an adviser, browse the Internet for names of Las Vegas probate attorneys, and get referrals from trusted friends or associates. Familiarize yourself with tax regulations beforehand, especially if you believe that your retirement picture is complicated.

How a probate attorney can help

When you meet with a Las Vegas probate lawyer, you should be able to obtain focused, experienced advice in the following areas:

Wills. Following your death, a well-crafted will can provide a supportive financial and personal transition for your loved ones, during difficult times.

Trusts. A trust is a legal relationship established in a written document that defines and transfers property to be held according to your wishes. A trust manages certain assets, like life insurance proceeds, whereas a will directs the distribution and management of your entire estate. Types of trusts may include the following:

Living trusts
Revocable trusts
Irrevocable trusts
Qualified personal residence trusts
Trusts for minor children
Special needs trusts

Health care powers of attorney. Preparation of health care documents is vital to ensure the quality and type of care you desire, in the event that you become unable to communicate your wishes, or become incapacitated. Types of tools for health care planning include the following:

Living will
Advanced medical directive
Durable power of attorney for health care
Financial power of attorney

Las Vegas probate and estate administration. In many cases, formal court probate proceedings can be avoided with good financial and estate planning. If probate becomes necessary, a skilled Las Vegas probate attorney can help you navigate the process by doing the following:

Attend probate hearings
Provide direction on the prioritization or dispute of creditor claims
Manage the distribution of assets to entitled parties

Regardless of your current age or net worth, estate planning is important for you and your loved ones. Think about the future, and work with an experienced Las Vegas probate attorney at Trent, Tyrell & Associates create a comprehensive estate plan. Contact us today.

Posted at 16:50 PM

Topic: Trusts and Estates