Nevada Estate Planning Primer

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• Nevada
• Estate Planning Primer

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In this presentation we will look at some estate
planning basics.
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It should be noted that more advanced legal
devices may be necessary under some circumstances.
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Arranging for Future Asset Transfers
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You have to select a vehicle of asset transfer.
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Many people think that a last will is the only
logical choice.
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In fact, you do have other options. The correct
choice will depend on your unique situation.
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Probate
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• In Nevada, if you pass away in possession of
  property exceeding 20,000 in value your estate
  must be probated.

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Probate is a legal process, and it can be
expensive and time-consuming.
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The heirs to the estate don't receive their
inheritances
until the process has run its course.
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Avoiding Probate
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• It is possible to arrange for future
  distributions of your assets outside of probate.

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One way of doing this would be to convey assets
into a revocable living trust.
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Revocable Living Trusts
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When you create the trust you name a trustee who
will administer the funds.
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You also name a beneficiary or beneficiaries.
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After you pass away the trustee distributes
assets to the beneficiaries according to your
stated wishes.
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These distributions take place outside of the
probate process.
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Advance Health Care Directives
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Certain medical contingencies may present
themselves as you reach an advanced age.
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• You can prepare for these eventualities by
  executing advance health care directives.

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Living Will Durable Medical Power of Attorney
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A living will is used to state your preferences
regarding the use of certain medical procedures.

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• With a durable medical power of attorney you
  empower an agent to make health care decisions on
  your behalf.

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Financial Power of Attorney
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• Incapacity is common among people who have
  reached an advanced age.

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A durable financial power of attorney is used to
select a financial decision-maker.
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This individual would handle your financial
affairs in the event of your incapacitation.
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Want to Know More About Estate Planning in Nevada?
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In the Reno area contact Anderson, Dorn Rader
to schedule a free estate planning
consultation. [phone] www.wealth-counselo
rs.com
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Northern Nevada Estate Planning Consultation

• In the Reno area contact Anderson, Dorn
  Rader to schedule a free estate planning
  consultation.
• [phone]
• www.wealth-counselors.com