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Craig's Corner - Wealth Planning Insights

Friday, September 15, 2017

Nevada Estate Tax Planning Essentials


Benjamin Franklin famously quipped that nothing in this life is certain except death and taxes.  However, nearly as certain, is the public antipathy generated by taxing one’s death.  The estate tax, or “death tax,” is a tax of up to 40% levied against the assets of large estates after someone dies.  The good news is that with proper planning, most estates can minimize their estate tax liability or eliminate it altogether. A good Read more . . .


Monday, September 11, 2017

Nevada Says No to Recreational Marijuana Use for Gaming Industry


Are you allowed to use recreational marijuana in the Nevada gaming industry?

Considering the reputation that Nevada, especially Las Vegas, has as the fun capital of the country, it may be surprising to some that The Nevada Gaming Commission has replied with a resounding “NO” to several questions involving the use of recreational marijuana in relation to the gaming industry. After all, people go to Nevada to vacation, let loose, and indulge themselves in various ways: drinking, gambling, and even taking advantage of the fact that prostitution is legal in some counties of Nevada.

The Discussions that Led to the Commission’s Decision

Recently, the five-member board of The Nevada Gaming Commission, which establishes policy for the gaming industry throughout the state, restated its opposition to the use of marijuana at gambling casinos as long as both possession and consumption of pot remain felonies under federal law. This decision will, of course, impact a number of businesses in the state of Nevada.  If you are a business owner, it is always important that you have a Read more . . .


Friday, August 25, 2017

Incorporating Charitable Giving in Your Estate Plan


How can giving to charity help me to save money in taxes?

Charitable giving can form an essential part of your estate plan.  Charitable giving is not just for the extremely wealthy; rather, charitable giving can be used to reduce the tax obligations of any American.  Consider incorporating charitable giving into your overall estate plan using some of the techniques below to provide for your family and leave a meaningful legacy.
Read more . . .


Monday, August 21, 2017

What To Look Out For When Drafting Non-Competition Provisions in A Business Sales Agreement


In July of 2016, the Nevada Supreme Court dropped a bombshell.  In a case called Golden Road Motor Inn, Inc.
Read more . . .


Thursday, July 20, 2017

Why Do So Many Americans Put Off Estate Planning?


Why do I need an estate plan?

The most recent Gallup Poll reveals that just 44 percent of Americans have a will that states how they would like their money and affairs handled after their death. This figure is down from previous years.  With so few Americans having an estate plan today, it begs the question, why do so many people put off estate planning? Our Nevada estate planning lawyers discuss the reasons that Americans fail to make a will and why it is so important for you to create an estate plan today.
Read more . . .


Sunday, July 16, 2017

Key Issues To Look Out For With Asset Purchase Agreements


Whether you are the buyer or seller in a business purchase transaction, you will want to make sure that certain key issues are addressed in an asset purchase agreement, before you sign it. Of course, it is always a good idea to talk with a lawyer who has experience in the purchase and sale of a business before you head down this road. In the meantime, here are some key things to look out for.
Read more . . .


Sunday, June 18, 2017

Protecting Your Real Estate Investments with an Irrevocable Trust


What are the benefits of forming irrevocable trusts to protect my assets?

For high net worth individuals, especially those with significant real estate investments, irrevocable trusts have long served as a vital estate planning tool.  One significant benefit of an irrevocable trust is that it will allow your assets to escape the federal estate tax.  However, with the elimination of the federal estate tax looming, some may be wondering whether irrevocable trusts still have value.
Read more . . .


Tuesday, June 13, 2017

What is a Nevada Registered Agent?


Owning a business is a worthwhile venture. However, when you own businesses in multiple states, keeping track of all your mail can be problematic. If one of your businesses is in Nevada but your primary residence is in another state, you will need to appoint a registered agent to act as your proxy, handling sensitive matters on your behalf.

Don’t have a registered agent? You should. Talk to a Read more . . .


Tuesday, May 30, 2017

Will Paperless Wills Change the Future of Estate Planning?


How might electronic wills change how we make an estate plan?

Fewer than half of all Americans have a written will, according to the most recent Gallup poll.  There are many reasons why people avoid estate planning, including an unwillingness to contemplate our eventual death.  Aside from a general avoidance of all things death related, Americans today are increasingly reliant on the computer and electronic tools, rather than printed documents.  Electronic wills may usher in a Read more . . .


Monday, May 22, 2017

What Should I Include In My Nevada Business Succession Plan?


Family-owned businesses are the bedrock of the United States economy. A family-owned business is one that is wholly owned by a family and usually has two or more family members such as a father/mother, father/son or brother/sister involved in its management. It is estimated that family-owned businesses are responsible for 78 percent of US job creation and 50 percent of the country’s GDP.

Sadly, many family-owned businesses fail at the succession stage. More than 70 percent of these businesses do not survive transitioning to the second generation.
Read more . . .


Thursday, April 27, 2017

Estate Planning During a Period of Shifting Tax Laws


Should I make my estate plan now or wait for tax law changes to come?

President Trump has promised significant tax reforms, but these changes have not yet been implemented.  As we all wait to see what tax laws will alter under President Trump, many Americans are wondering whether they should make an estate plan now or wait until more definite tax policies are in place. Our Nevada estate planning attorneys at Stone Law Offices, Ltd.
Read more . . .


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S. Craig Stone II of Stone Law Offices, Ltd. serves clients throughout Clark County, Southern NV, Las Vegas, Henderson, Boulder City, North Las Vegas, Summerlin, Carson City, Reno, Washoe County, and Nye County. Also serving clients with asset protection nationwide.



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