For many, if not most Nevada families, a living trust is the optimal way to transfer real and personal property after death.
These are some common reasons why:
- Probate Avoidance– A properly created trust with property transferred to the trustee allows the transfer of property to your beneficiaries without the cost and delay of probate court. Without a trust, out of state real properties result in additional probates without.
- Taxes– Large estates in Nevada benefit from living trusts because it allows you to organize the assets in a way that immensely reduces or eliminates taxes.
- Children– You select the age your children receive their inheritance in case you, and your spouse die or become incapacitated before that time. Until the kids reach the age you choose, the property can be transferred to them. Until that time, the person you have entrusted as your “successor trustee” will use the trust property for the health, education, and maintenance of your child.
- Adult Spendthrifts– The trust is a great way to have the money spent for proper purposes when a beneficiary for whatever reason, may waste it. The more prudent successor trustee will be in charge of the cash. These can be customized to create incentives for success such as milestones in recovery or behavior.
- Ease – When the creator of the trust passes away, the property can be distributed quickly and easily, without probate court. Reliable professional trustees can also be used to correctly administer the estate.
- Privacy– A living trust never becomes a public document unless there is an unplanned court action. Wills, by contrast, can be viewed by the public.
- Flexibility– If you have a goal for your estate when you pass away, and your not sure it can be accomplished, you may be surprised to learn how flexible a living trust can be in creating your desired outcome.
Although a living trusts is suitable for most families, it needs to be right for YOUR family. Attorney Kevin Walsh will help you determine if a trust, will, or other strategy is best for your estate.
Schedule a Free Living Trust Consultation
The Living Trust Source has developed a streamlined process for producing and executing top grade living trust packages. Our method reduces the burden on the client. It starts with your email or telephone call. We set-up a consultation and gather information by telephone or video as the client prefers. Attorney Kevin Walsh is willing to travel to his client’s home and other locations with his notary for signing documents. Our downtown Reno office is also available for meetings. We take our mutual health seriously and have a strong COVID-19 Policy. Outdoor signings are available.
Our Living Trust
All Living Trust Source trusts are custom drafted by attorney Kevin Walsh in close consultation with the client. Kevin Walsh’s trusts contain Nevada-specific trust clauses and special terms that carefully articulate your desires for your estate and beneficiaries. Our trusts are written in clear language and does not require a law degree to understand.
Other Estate Planning Essentials
Estate planning involves more than designating who gets your property when you pass away. It also involves planning in case you are incapacitated. A trusted family member or friend should have authority to make financial and healthcare decisions through power of attorney if you are incapacitated. Advanced healthcare directives should also be executed so your doctor will know your preferences if you have a terminal condition with little hope of recovery.
A standard trust package includes the following essential items:
- Revocable Living Trust
- Pour-over Will
- Assignment of Property Final Wishes
- Affidavit of Certification of Trust
- Power of Attorney for Healthcare Decisions
- Power of Attorney for Financial Decisions
- Advanced Medical Directives
After we execute the documents using our notary, we secure the documents in a 3-ring binder with an index and tabs. We also scan the entire executed package and save the PDFs on a USB for your safe keeping.
The attorney-family relationship is important to the success of your estate plan. A client, and the family after their death, should never be apprehensive about contacting their attorney to ask about their trust or other documents. That’s why we never charge for the occasional call from a client or client’s family seeking guidance. If the client requests “additional work” such as completing forms, answering novel questions, research, and other actions we will offer a reasonable fee for the additional service. We want help you make your estate plan to succeed.