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Las Vegas BEST Estate Planning Attorneys
Estate planning is a crucial step to take in order to prevent all your assets being left in the hands of the state. In order to designate how your assets will be divided a will or a trust will need to be set in place. However, without proper precautions or professional help, its possible for your assets to end up in probate anyways.
Estate Planning
Planning the transfer of your estate is one of the most important things you may ever do for your loved ones…
Trusts
Trusts can be very important tool in estate planning. With a trust, you can retain control of your assets while you…
Wills
A will is the backbone of any estate plan. No matter the size of your estate, a will can prevent the state from deciding…
Asset Protection
Planning the transfer of your estate is one of the most important things you may ever do for your loved ones…
Probate
Trusts can be very important tool in estate planning. With a trust, you can retain control of your assets while you…
Business Formation
A will is the backbone of any estate plan. No matter the size of your estate, a will can prevent the state from deciding…
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Why Choose Us?
Trusts, Probate & Business Lawyers
With our recognized leadership in applying legal service and technology innovation, we deliver commercial advantage to clients.
Lawyers of Las Vegas is proud to be Las Vegas’s number one choice for estate planning, trusts, wills. probate, asset protection, and business formation for over 10 years. The firm’s success has thrived through both the ups and downs of the economy because of the loyalty of our clients.
LEGAL AWARDS:
Living Trust Attorney:
Planning your estate isn’t just about what happens when you die; it can also benefit you during your life. Asset protection and business formation can help you retire from a business you started and shield personal assets from life’s many risks.
Sometimes estate planning is as simple as creating a will and an advance directive. For others, planning an estate involves carefully bequeathing family heirlooms, setting up trusts to protect assets, and passing on a family business. An estate planning attorney can help you regardless of your goals for the future.
Beniefits of Estate Planning Services:
Support A Disable Child:
If you have a special needs child, what will happen when you are gone? An estate planning lawyer can help you create a special trust to financially support your child for life without impacting
government programs.
Estate Planning
Estate planning can ensure your loved ones receive as much of your estate planning.
Planning the transfer of your estate is one of the most important things you may ever do for your loved ones. Estate planning can ensure your assets are not left in the hands of the state — not the IRS or probate lawyers. Without proper planning, your estate will go through the costly and lengthy probate process. Your loved ones may be waiting 6 months or longer to receive the assets you want to leave for them.
Avoiding probate is an important reason to work with Las Vegas estate planning attorneys like Lawyers of Las Vegas. Planning your estate isn’t just about what happens when you die; it can also benefit you during your life.
Reduce Costs
Planning your estate can reduce estate taxes and legal fees for your heirs.
Business Planning:
If you own a business, it should be included in your estate planning. An estate planning attorney can help you create an exit strategy and retire one day. Planning can also give your business a life beyond your own and pass on as much value as possible to heirs.
Name Guardians:
If you have children who are minors, estate planning can ensure they are cared for by people you trust.
Create A Legacy:
Whether you want to donate to charity or set up a trust for children and grandchildren, planning ahead is vital.
Trusts
Your assets will pass directly to your intended beneficiaries
Trusts can be a very important tool in estate planning. With a trust, you can retain control of your assets while you are alive and avoid probate after death. Your assets will pass directly to your intended beneficiaries without additional legal costs or court proceedings. Trust attorneys in Las Vegas can help you explore several types of trusts that can be customized to your goals.
Living Trust Attorney:
Living trusts are the most popular form of trust for estate planning. A revocable living trust allows you to keep control of your assets during your lifetime. You can add and remove assets from the trust whenever you like. When you die, your appointed trustee distributes the assets based on your trust document.
A living trust is not public record when you die, unlike a will. It also avoids probate. Assets in a living trust will be distributed within weeks, not six months or longer. While there is an upfront cost to set up a living trust with a trust and estate attorney,
This step can save heirs thousands in legal fees. If you are ever incapacitated, your trustee can also take over automatically. Otherwise, the court will appoint someone to oversee your finances.
Other Types of Trusts
A will and trust attorney can also help you set up other types of trusts to fit your needs. Common estate planning trusts include:
Totten Trust. This informal trust is also called a Payable on Death account. Bank, credit union, and brokerage accounts with a named beneficiary pass automatically to heirs.
Special Needs Trust (SNT). A trust attorney can help you set up a unique trust to give financial support to a child with special needs. The assets in the trust can be used for
life without affecting government programs.
life without affecting government programs.
Trusts For minors. This type of trust allows you to leave money to a child or grandchild. The money can be held in the trust until an achievement like graduation or a certain age is reached.
Wills
A will can prevent the state from deciding how to distribute your assets
A will is the backbone of any estate plan. No matter the size of your estate, a will can prevent the state from deciding how to distribute your assets and who will be guardians of your children. Drafting a will with the help of a will and trusts attorney is not as difficult or expensive as you may believe.
While a will is not appropriate for everything, such as conditional gifts or reducing taxes, it has many uses. A will attorney can help you draft a will to:
- Name the executor of your estate.
- Appoint guardians for minor children.
- Leave assets to children.
- Dictate who should receive specific property.
- Plan what will happen to your pets.
- Dictate how final debts and taxes should be paid.
- Serve as a backup for a living trust. While a living trust can include most assets in your estate to avoid probate, a “pour-over” will should still be used. An attorney for wills and trusts can help you draft a will that covers all of your estates.
Do not assume you do not need a will or that there will be time to make one later. If you die without a will, you will die “interstate.” Your entire estate will be distributed based on Nevada law and the court will decide what happens to everything, even children. An attorney for wills can help you create a will that ensures your wishes are known and carried out. Your will can also be combined with other legal strategies for thorough estate planning.
Estate Planning
Things to know about
We know there are many choices out there, but we feel so confident in our practice that we are willing to give you a free consultation so we can prove it to you. Below you can learn more about our wonderful, professional, highly trained attorneys & staff.
Professional Lawyers
Meet The Experts
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Power Of Attorney
Avoid Disability Risks
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Professional Lawyers
Meet The Expers
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A Plan
Everyone Needs A Plan
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A Will Or Living Trust
Protect Your Loved Ones
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Probate
The Risk & Danger
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Asset Protection
A will can prevent the state from deciding how to distribute your assets
Have you ever considered what will happen if you are sued? While you may think it’s unlikely, millions of consumers have found themselves on the wrong side of litigation. Lawsuits can arise from many common situations, including car accidents, dog bites, slip and fall accidents, and professional mistakes.
Asset protection focuses on shielding your assets from lawsuits, creditors, and predators. An asset protection attorney can recommend a number of solutions to protect your savings from the unexpected. Depending on your risks, we may suggest any of the following:
- Higher liability insurance limits. If your dog bites someone or you are responsible for a traffic accident, it’s good to have high policy limits. Otherwise, there is likely to be a deficient and the injured party may sue you and go after your assets. Most people in Nevada do not have enough car insurance to pay for even moderate injuries.
- Greater contributions to protected retirement accounts. Your retirement accounts are shielded from creditors and bankruptcy.
- Increasing equity for the homestead exemption. Nevada law protects up to $550,000 in home equity from creditors. Increasing principal payments on your mortgage can boost your equity.
- Business formation. If you own a business, your personal assets may be at risk if you can’t pay the business debt or make a mistake. Forming an LLC or incorporating can shield your personal assets from business debts.
- Asset protection trust. A trust is a vehicle that can hold your assets while giving you full control. An asset protection trust will make it very hard for creditors to seize assets.
Probate
Forming a living trust is one of the best strategies to avoid probate.
Probate is a complicated and time-consuming court proceeding to identify and distribute assets in an estate. Without planning to avoid probate, most assets will go through this process. It may take months before heirs can access funds. A probate lawyer can serve two roles to assist with probate: strategies before death to avoid probate, or representing heirs and executors.
One of the primary goals of estate planning is avoiding probate. This is done by changing the way assets are held to take them out of the probate estate. Some assets automatically bypass probate, such as life insurance proceeds and retirement accounts. Other assets like bank accounts can also bypass probate by making them “payable on death.” Forming a living trust is one of the best strategies to avoid probate, but it’s recommended only with the assistance of probate lawyers like Kurt and Blake Johnson.
If you are the executor of an estate, you may find yourself overwhelmed by the complex probate process. Las Vegas estate probate lawyers can help you navigate and complete the probate process to close the estate.
Common areas in which a Las Vegas probate lawyer can help include:
- Notifying heirs
- Distributing assets
- Paying debts and taxes
- Accounting to the court
- Proving the validity of a will
- Finding and identifying assets
Business Formation & Succession
Making plans for business succession has many benefits and shouldn’t be put off.
If you have a sole proprietorship or partnership, your business will likely die with you. Without business succession planning, the government will receive most of the value of your business, not family members or employees. A business formation attorney in Nevada can help you plan for the future of your business and your eventual retirement.
Making plans for business succession has many benefits and shouldn’t be put off. One important benefit is reducing taxes and ensuring loved ones receive their share of the business value. Succession planning can also give you control of the future of your business. Planning early can give you more options and reduce risk that your business will fail with your health. You can also plan an exit strategy so you can retire and enjoy passive income rather than allowing the business to collapse.
A business formation attorney may recommend many strategies to plan for the future. Forming a legal entity like an LLC or corporation can come with immediate tax and liability benefits and give your business life beyond your own. You have worked hard to create a successful business. Don’t neglect planning and allow what you have built to crumble.
Our Proposal
Tips & Tricks For Your Estate Planning.
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What happens if someone passes away without will?
You’ve worked hard for what you got, don’t let someone else take it from you through a lawsuit. Both Utah and Nevada have great asset protection laws that can be…
Who is responsible for handling probate?
All estates that do not have proper planning done must go through probate once someone dies in order for the distributions from the estate to become official…
What Do I Need a Will?
You’ve worked hard for what you got, don’t let someone else take it from you through a lawsuit. Both Utah and Nevada have great asset protection laws that can be…
Why Do I Need an Estate Plan?
There are many reasons to begin planning your estate. One of the most important reasons is avoiding probate. Changing how your assets are held means beneficiaries can receive assets within weeks, not many months.