You have worked a lifetime accumulating assets and property. A Reno wills attorney understands that preserving and protecting your assets is important and meaningful. To complicate your planning, the present legal environment creates an ever-changing set of laws for estate taxes and a lot of planning options to address the laws. Estate planning and asset protection provide peace of mind.
Having a valid will avoids many problems your family could face when you pass away without a plan. Wills allow you to leave your assets to the people you desire, but also allow you designate an Executor, the person who you want to manage your estate. Making a will is one of the best investments you can make on behalf of your family to assure that their needs are met after you have passed.
Studies show that most Americans do not have a valid will. If you die without making a will, Nevada state laws will determine how and to whom your assets will be distributed. Making a will with the help of our Reno wills attorney, Gloria Petroni, can give you the peace of mind that your loved ones will be provided for as well as possible.
What to Include in a Will
Depending on the structure of your family, the types of assets you own and your goals, what to include in a will could differ greatly. Reno Family Law Attorney Gloria Petroni has extensive experience creating wills for clients throughout the state of Nevada.
- Decide what property to include in your will.
- Decide who will inherit your property.
- Choose an executor to handle your property.
- Choose a guardian for your children.
- Choose someone to manage children’s property.
- People who you wish to disinherit.
Making a will is important for people with young children, because wills are the best way to transfer guardianship of minors. A wills and trusts attorney can help you determine which provisions and transfer instruments are best suited to your needs and objectives. With good planning, you can be confident that your wishes will be carried out, even when you cannot see to it yourself.
A will is also useful if you have a trust. A trust is a legal mechanism that lets you put conditions on how your assets are distributed after you die and it often lets you minimize gift and estate taxes. But, you still need a will since most trusts deal only with specific assets such as life insurance or a piece of property, but not the sum total of your holdings.
Why it is important to hire a Reno wills attorney?
While there are many templates and different computer programs out there that you can use to write your will without the assistance of an attorney, these methods have many pitfalls that could be missed until your estate is being settle and it is too late to make changes. Hiring a will lawyer to guide you through the process may cost a little more, but the peace of mind you gain from having help from an experienced professional is priceless.
What happens if I die without a will in Nevada?
If you die without a will in Nevada, your assets will go to your closest relatives under state “intestate succession” laws. Only assets that would have passed through your will are affected by intestate succession laws. Usually, that includes only assets that you own alone, in your own name.
Having a will is important if you want your property to go to non-relatives, if you want your property to go to particular relatives, or if you want to attach conditions to a gift such as that a minor does not get a big inheritance at age 18, but has to wait until later.
If you need help with a will and estate planning contact an experienced Reno family law attorney at Petroni Law Group today.