Monday, April 17, 2017
Estate planning is a tool to manage the transfer and distribution of an estate after death. It is important because it provides estate owners with a way to have control over the distribution of their property after their death. The process of creating an estate plan can be complicated, so talking with a Nevada estate planning lawyer can be invaluable.
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Sunday, March 19, 2017
How can a special needs trust financially assist my child with special needs?
Nearly one in five people or roughly 50 million people across the United States have some form of disability, with an estimated 24 million being severely limited. Having a disabled child can be challenging, but also comes with immense rewards. The parents of disabled children face unique issues in ensuring their children receive the care they need, including ongoing medical care. One of the best ways that the parents or guardians of disabled children can guarantee their children receive the greatest care is by creating a Read more . . .
Monday, February 27, 2017
Why is it so important for me to have a will?
None of us wants to contemplate death, which is likely the reason that fewer than half of all Americans have a will. Estate planning can be a difficult topic to tackle and many people simply put it off, at times until it is too late. Creating a will is critically important for the preservation of your property and your legacy. Read more . . .
Tuesday, January 31, 2017
When should you update your estate plan?
The New Year is traditionally a time to clear the deck and start fresh. This makes the early months of the year a fine time to revisit your estate plan. Make sure it is current and reflects changes in your life -- events, sentiments, income level, tax structure, etc. An outdated estate plan is dangerous; it can result in confusion and resentment among loved ones, not to mention unwanted taxes or a contested will.
A sudden occurrence, like an unexpected death or a change in health status, can make your previous decisions obsolete in an instant.Read more . . .
Thursday, January 26, 2017
Is is ever appropriate to treat your children differently from one another in your estate plan?
Although we all know that it is important to be careful to treat your children fairly as you craft your estate plan, we should also be aware that fair (“equitable”) treatment is not necessary “equal” treatment. In fact, there are times when treating two children equally is patently unfair. For example, to give equal allowances to a 4-year-old and a 14-year-old would be unfair, since one has more expenses, more mature understanding, and more responsibilities. In the same way, leaving all of your children equal portions of your estate may be unfair to one who has special needs or one who is in a particularly difficult situation. In making decisions regarding equitable distribution of your estate to your children, it is essential that you discuss your plan with Read more . . .
Friday, December 30, 2016
Why should new parents have an estate plan?
Having a child is a time of great joy, but becoming a parent also comes with a number of concerns. While no one wants to think about dying or becoming disabled when a child is born, this is the time to think about the future and make important decisions about how to best protect your family. In short, it is essential for new parents to create an estate plan.
Estate Planning 101
Many are aware that having a will is necessary for determining how their assets will be distributed after they die. But the fact is that more than half of Americans do not have this most basic estate planning document in place.
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Wednesday, November 23, 2016
Which areas are often ignored in estate planning?
While most of us understand the importance of estate planning, there are a number of areas that can easily be overlooked. This is one of the reasons it is essential to have a skilled and knowledgeable estate planning attorney at your side when you are creating wills, trusts, and other pertinent documents. An expert in the field will make sure that you not only cover all the basic aspects of estate planning but that you also take various other, however unlikely, scenarios into consideration.Read more . . .
Wednesday, September 28, 2016
Q: Is there more to an estate plan than just a will?
There is a common misconception in our internet-obsessed world that all anyone needs for an estate plan is a will. Many also think that a will is a simple piece of paper listing who gets their property after they die and something that can just be done with a DIY kit online.
The reality is that there are countless possible pitfalls to drafting your own will that can have serious financial consequences for you or your loved ones before as well as after your death. In addition to the increased likelihood that it would not be accepted by the court due to a drafting or execution error, it may not be able withstand a will contest by disgruntled heirs, may forget to provide for certain property, may attempt to disinherit a spouse, and so on.
An Read more . . .
Thursday, July 21, 2016
Should my estate plan include a prenuptial agreement?
A pre-nuptial agreement is entered into by future spouses before the marriage in order to specify each parties property ownership and their respective property rights in the event of a divorce. These agreements are beneficial because they provide a couple with financial clarity, reduce the potential of a contentious divorce, and avoid court intervention in questions of property division.
In order for a pre-nuptial agreement to be valid, it must be fair to each party and entered into without coercion. Moreover, both parties must completely disclose their assets, property and debt. While these agreements are often relied on to protect assets in a divorce, pre-nups can also serve as an effective estate planning tool.Read more . . .
Sunday, May 1, 2016
Why do foreign investors favor Nevada shell corporations?
When Americans hide money offshore in tax havens such as the Cayman Islands, the United States government often expresses outrage. Over the years, it has pressured Switzerland and other foreign countries to stop providing Americans with a way to hide assets.
Nevada Holding Company Figures Prominently in Panama Papers
For foreigners and some Americans, however, parts of the United States are very similar to the Cayman Islands—specifically, states such as Nevada, which offer anonymity and friendly corporate laws.Read more . . .
Wednesday, April 27, 2016
What estate planning issues are of particular importance to single individuals?
Having a capable estate planning attorney at your side is essential for everyone with substantial accumulated assets. For the most part, estate-planning articles seem to focus on married couples. Even second or third marriages often get more attention than needs and issues relevant to single members of our society.
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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.