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Expense is always a consideration when deciding whether to create an estate plan. Often, people are deterred from creating an estate plan because of the cost, time commitment or nature of the discussion. However, if you decide that you don’t need an estate plan or that you should wait to create one, you need to realize that you will then likely have to deal with the consequential costs of dealing with probate.
Estate planning is one of those touchy subjects… it involves a whole host of unpleasant, yet very necessary conversations with family members.Wills and trusts can be very confusing but Parry & Pfau is here to break it all down for you.
Are you planning to take a second trip down the aisle or have you already taken the plunge for the second time? For those who are in the situation, formulating the right estate plan can get a little complicated. In this article we will describe what options are available to you when combining families or creating a new one so that you can create an ideal estate plan in a second marriage.
Have you ever heard of the term Sandwich Generation? Well, these are the people that find themselves taking care of their children as well as their aging parents at the same time. In these situations, individuals have taken estate planning steps to not only include their children but also their parents in the plan. In this article we will consider different estate planning techniques for individuals who need advice in estate planning for aging parents so that those in the Sandwich Generation can find comfort knowing that they have taken the proper steps to protect all of their loved ones.
Trusts created as part of an Estate Plan are private and not shared with the public unless you choose to do so. However, Joan Rivers was not exactly known for her private life and she has been very vocal regarding her planned inheritance. She intended to give most of her inheritance to her daughter and grandson. In addition, according to her goddaughter, she took extra care to provide for her dogs after passing.
Asset protection is a power tool created by lawmakers to allow individuals to protect your property from creditors and law suits. Asset Protection in Nevada allows you to make certain decisions today that will protect you, your family, your business, and your hard-earned assets in the future. This type of legal planning is particularly important for business owners and professionals as their property could be more significantly at risk.