Will and Trust Attorney
Nevada Will and Trust Attorney
Do you like audiobooks? It’s a great way for busy people to read books on the go. Imagine if you listened to an excellent audiobook only to discover that the last two disks are gone. The book was so good, but you missed out on enjoying the end. This is what can happen to your family if you fail to plan the last chapters of your life. To avoid probate and potentially expensive courtroom battles, you will want to work with an experienced and educated Nevada will and trust attorney who will work with you to develop the right will and trust for your situation.
Being prepared is a display of love and protection for the people you care about most. It takes more than filling out an online form to make a will. Making and updating your estate plan includes wills, trusts, POA’s, and more. When you update your will and trust regularly, you can:
- avoid fights among your children
- avoid confusion in elder age
- reduce stress and anxiety on the family or your beneficiaries
- avoid creditors taking assets from your spouse or children
- avoid losing public benefits for a disabled beneficiary
- avoid huge legal costs
- avoid having your estate go to an ex-spouse or creditor of your beneficiary
- avoid probate
- ensure peace
- avoid guardianship
- set an example to your loved-ones
- avoid hurt feelings
- show your loved-ones you care
- avoid having a trustee who turns out to be a bully
It’s important to update your living trust and will with a seasoned professional. Our Nevada will and trust attorneys work hard both in and outside the courtroom. We use updated Nevada laws and the best possible legal techniques to protect and preserve what you worked so hard to build. We make sure you have every option at your disposal so you can choose the right option for you and your family.
The Right Option For you: Wills Versus Trusts
Why is it so important to prepare and update both your will and living trust regularly? Because updating just your will won’t keep your family out of probate court when you pass away. They are confusingly similar because wills and trusts are both created by documents, but they mean different things.
Will – You are creating a document that says these are the people and things I care about, but nothing can be done by the executor of your will until they go into a court process called probate. At this time, a judge will look at the will and determine if the executor has the authority to manage your estate. The work is essentially done after you pass away.
Living Trust – Unlike a will, a living trust passes property outside of probate court. With a trust, you do more work upfront to title or register your property in the name of your family entity, to avoid expensive probate in the end. It’s similar to having a family company with designated trustees, etc. This process costs a little more upfront to avoid paying much more in the end by going through probate court. During this process, Investopedia explains, “A person called a trustee will be named in the document to control the distribution of assets following the wishes of the trustor, in accordance with the trust document and its mandates.”
Both a will and trust are important in estate planning but serve different functions. A will determines how your assets will be distributed upon death, while a trust becomes the legal owner of your assets when the trust is created.
View this Legal Minute with Michaelson & Associates to learn more about wills versus trusts. For more information on wills and trusts, visit our Estate Planning practice area, click here to contact an experienced Nevada will and trust attorney at Michaelson & Associates, or call our office at 702-731-2333.