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February 2017 Archives

3 things that can happen if you ignore estate planning needs

It's understandable that individuals put off estate planning; these things can be overwhelming or even frightening to consider, especially if you don't have the right professional help to work through the process. But estate planning doesn't have to be frustrating or scary, and getting your plans on paper with the help of an experienced lawyer can actually reduce your stress by providing you with peace of mind about the future. If you ignore estate planning needs, on the other hand, your heirs can experience the consequences.

What should you consider when choosing a guardian?

One of the biggest decisions you might make as a parent -- and a decision that many people never consider -- is who might be the guardian of your minor children if something happens to you. This can be a frightening thing to consider, so it's understandable why parents might avoid the decision. Facing these fears and working with an estate lawyer to appropriately cement guardianship appointments can make a big difference in your child's life if disaster should strike. Here are some things to consider as you choose a guardian.

How likely are you to succeed when contesting a will?

If you see injustice or unfairness, you're supposed to speak out, right? What happens when the injustice you see relates to the estate of a friend or loved one, and you believe that the will that has been filed isn't actually valid. Perhaps the information in the will just seems bizarre and isn't in line at all with what you knew about the person's wishes. Maybe you even know about another possible will and thing that one is the valid one. What do you do about these concerns?

Dealing with IRA funds after someone passes away

IRAs are often touted as a good solution for those who want to save for retirement, and there's nothing untrue about that claim in most cases. As with any financial plan, you probably want to make sure you spread your eggs into several baskets, but an IRA is a great way to reduce tax burdens and ensure you have funds during retirement. But what happens if someone passes away with funds still in their IRA?

The type of trust you set up can impact beneficiaries

When you are making an estate plan, the type of trust you choose for your assets can have an impact on the beneficiaries. If you have a person who is going to be the beneficiary of a trust and who is the recipient of government benefits, you should be sure that you use a special needs trust so that you can help him or her preserve his or her right to receive benefits.

Seek professional assistance for complex trust situations

No matter how streamlined your assets are, if you plan on invoking any other estate document than a basic will, things can get complex quickly. Even a simple will isn't always as basic as you might think, and you have to ensure that your estate plans align with state law on heirship matters or your family members can become mired in lengthy probate processes in the future. Professional assistance with estate matters can greatly reduce the headaches you or your heirs face in the future, especially when it comes to trusts.

What is probate and how does it work?

You may have heard of the term "probate" without ever really understanding just what is means. In simple terms, probate is the process of transferring property previously owned by a decedent to the beneficiaries and heirs after the death of the person.

Acting as the guardian for an adult

When we say guardian, most people probably think of the relationship between minor children and the person tasked with caring for them if something happens to one or both parents. While that is one type of guardianship, you can also become the guardian of an adult person if that person is deemed incompetent or incapacitated.

Do not let a construction dispute affect your bottom line

Construction projects are lengthy, costly business ventures, and any dispute or delay can have a significant impact on your finances. If you are facing a conflict regarding a current or future Nevada construction project, it is important to reach out for legal help as soon as possible. In order to protect your financial interests, you need a lawyer closely familiar with the nuances of construction law.

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