Best of Las Vegas GOLD: Best Estate Law Firm!
Estate planning attorneys are immensely important for properly arranging financial & medical affairs and protecting your loved ones . Everyone needs an estate plan, but less that 30 percent of Americans over 18 have a proper estate plan, and a majority of Americans are unsure of what an estate plan is or why it is needed.
You do not want to leave your loved ones in a position of grieving and fighting over property and your financial and medical decisions with one another. Nor do you want to leave the care of your minor children up to the state courts if something were to happen to you! These family conflicts are all too common when individuals become disabled, incapacitated, or pass away.
Our estate plans are created by focusing on the people, not property. That means our clients' goals are always at the forefront of every estate plan. No two estate plans should be alike, because no two clients are exactly alike.
Estate planning is important for everyone, no matter their age or financial status.
- Estate planning avoids taxes and legal court battles (that can be costly and emotionally draining), and ensures funds are awarded as you wish.
- An estate plan appoints the right people to take care of your kids and even YOU if you're incapacitated.
Estate planning goes beyond a will
Many people think of a will and an estate plan as the same thing. They're not.
Both will and estate plans provide instructions for how your property, cash, and other assets should be handled after your death, but estate planning encompasses much more. It can also include:
- Durable powers of attorney to appoint individuals to make medical and/or financial decisions on your behalf you're unable to provide instructions yourself
- Medical directives to outline the kinds of medical treatment you want (or don't want) if you become incapacitated
- Beneficiary designations to explain who should receive money from life insurance policies, annuities, retirement accounts, and other financial accounts
- One or more trusts to facilitate passing property to your heirs without your property entering into the expensive and lengthy probate process, and potentially provide tax benefits for both you and your beneficiaries
The sooner you get started, the better. An estate plan is only effective if you keep it current.
Once you have an attorney prepared estate plan, review your plan regularly – or after major life changes like marriage, divorce, birth of a child or grandchild, or a death in the family. If your estate plan is out-of-date, your heirs could still encounter some of the problems you tried so hard to avoid.
At Stovall & Associates we draft many types of estate-planning documents, from the basic to the complex, including wills, revocable living trusts, irrevocable trusts, educational trusts, spousal trusts, and special needs trusts.
We fund the trusts and do all the drafting of documents. We also assist clients with estate and trust administration issues.
Contact us today to learn how we can help you with your will and/or trust.