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If you’re looking for legal strategies to protect your assets and provide for your family in the future, it’s time to make an estate plan that’s personalized to your specific needs. A Nevada estate planning attorney can assist with this process by determining which tools you need in your plan. You’ll find that in most cases, a last will and testament is considered among the most important legal documents to have in your estate plan since it outlines your wishes for asset distribution upon your death.
If you want to create a will but don’t know how to begin, contact Trusted Estate Planning Attorneys for legal guidance. Our experienced team would be happy to walk you through every step of the process of writing a will to ensure your assets are distributed according to your wishes. Call our Las Vegas law firm today for a free consultation.
Why Do You Need a Will for Your Estate Plan?
Including a will in your estate plan is critical because it has several purposes when it comes to protecting your estate and your family’s future as a whole. Wills make it possible to do the following:
- Appoint an executor to administer your estate as it goes through the probate process
- Ensure your assets are distributed to your beneficiaries after your death
- Identify a guardian you trust to care for your minor children
- Leave money to your preferred charities
- Clarify your funeral and burial preferences
- Decrease the risks of family disputes over your assets when you pass away
These are the most common reasons most people opt to write a will during the estate planning process. Your lawyer can let you know if these or other benefits apply to your estate after reviewing your circumstances and determining your goals for your estate plan. Call our Las Vegas law office today to start the process of writing a last will.
Should You Make a Last Will or a Trust?
Another legal document that’s often seen in estate plans is a living trust. Like a last will, a trust is meant to protect your assets and allow you to offer financial security for your family even after your death, but it does this differently than a will.
First, when you make a living trust, you transfer your assets to it during your lifetime. This means it takes effect before your death and bypasses probate, distributing the assets according to the trust documents when you pass away.
By contrast, a will goes into effect after your death. This is why it must be validated, meaning the assets distributed in a will have to go through probate court first. Note that the probate process is a matter of public record, which is why some people prefer to make a trust to avoid probate and maintain privacy for their family.
Since trusts take effect directly after they’ve been funded, they offer some benefits during your life, not just after you pass away. For example, depending on the type of trust you make, you may be able to reduce estate taxes, get some level of protection from creditors, and ensure your assets are managed by a trustee if you become incapacitated. Last wills cannot offer these benefits since they only go into effect after death.
Traditional wills and trusts both have some unique advantages. Generally, wills are easier and quicker to set up than trusts, but they require your loved ones to deal with the lengthy probate process when you pass away. This means they’ll need to wait several months before they get the real property, bank accounts, vehicles, and other assets you wish to leave them. If you’re not sure if a last will and testament or a living trust is in the best interests of your family – or if you’re considering both – call Nevada trusts attorneys for legal advice.
How Can You Make a Will in Nevada?
If you’ve decided to clarify your final wishes through a last will and testament, the next step is knowing the legal requirements of this document so you end up with a valid will. First, you must be at least 18 years old and of sound mind.
Next, you must write your will, either in your handwriting or typed on a computer, as oral wills are considered invalid in Nevada. Before you write this legal document, you should have a list of your beneficiaries and the assets you want to leave them. You should also know who you plan to appoint as your personal representative or executor, as well as who you want to be the guardian of your minor children.
Once you’ve written the will, you must sign it in front of at least two adult witnesses who are not beneficiaries of your estate. Be sure to tell your personal representative or other interested parties where you plan to keep your will. If you have any questions about this process, contact our skilled wills and trusts attorneys for the answers you need as you establish a comprehensive estate plan with critical legal documents.
Are You Ready to Call a Las Vegas Wills Lawyer?
For several years, the Trusted Estate Planning Attorneys team has provided Nevada clients with quality legal advice on wills, trusts, and other popular legal options. We would be happy to do the same for you if you’re ready to explore your estate planning strategies, including writing a will.
After all, if you pass away without a will – known as intestate – you will have no control over how your assets are distributed. The court will simply distribute them to your family members based on state law, which could result in estranged relatives getting your property or even gaining guardianship of your children. If you prefer to have control of these critical decisions, you need a last will and testament as part of your estate plan.
Our caring attorneys understand how confusing estate law can be, so we’re committed to providing the legal guidance you need. Whether you have questions about wills, trusts, Social Security benefits, insurance policies, or other legal strategies, we’re here to help. Call our Las Vegas law firm at 702-664-8858 to schedule a meeting with knowledgeable lawyers serving clients throughout Nevada.