Las Vegas Estate Planning

Estate planning is a vital legal process that manages and distributes a person's assets after death and provides directives in case you become incapacitated. It's essential for protecting your hard-earned assets and for unburdening your loved ones of the process of trying to guess your wishes when you are no longer able to express them. Unexpected events like accidents, illness, or death can happen at any time, regardless of age. It also allows you to appoint a guardian for your minor children.

A common misconception is that having a Revocable Living Trust eliminates the need for a Pour-Over Will. However, this is not entirely accurate. A Revocable Living Trust can help manage your assets during your lifetime and distribute them after you pass, but it only covers assets you transferred into it.

The idea of the Pour-Over Will is as a safety net. This legal document essentially allows any assets not held in your trust at the time of your death to 'pour over' into the trust. It ensures these assets become part of your trust estate and are, subsequently, distributed according to your trust’s terms. Without a Pour-Over Will, any assets not included in your trust could be subjected to intestate succession laws, potentially resulting in an unintended beneficiary receiving the asset. This oversight can lead to unnecessary family conflicts and legal complications.

The all-in-one estate plan provided by Your Legacy will enable you to make any changes necessary as your circumstances evolve. The revocable living trust prepared by Your Legacy will not become irrevocable (meaning, not capable of being changed) until your death or of your spouse if married.

A Healthcare Durable Power of Attorney (HDPOA) provides a specified person, called an agent, with the legal power to make healthcare decisions for another person. This power activates when the person granting the authority is unable to make their own medical decisions due to illness or incapacitation. The range of the agent's authority can be either general or specific, depending on the individual's preference. Commonly, it includes decisions about treatment options, medical procedures, selecting healthcare providers, and making end-of-life choices. For example, the agent could decide to authorize or refuse certain medical treatments, pick particular healthcare professionals, or choose between palliative or hospice care options.

Without an estate plan, you forfeit the ability to control how your assets are distributed after your death. Dying without an estate plan or will is known as "dying intestate." In such cases, your properties will be allocated based on the laws of intestate succession. These legal principles determine who inherits your estate in the absence of a will or other estate planning tool. This process could disrupt your intended distribution of wealth, possibly leaving your loved ones, especially those not related by blood, unprotected or causing undue hardship or financial distress.

In the case of sudden incapacity, the absence of an estate plan, including medical directives, may also mean you have not legally designated someone to make financial and healthcare decisions on your behalf. This could potentially lead to disputes among family members concerning who should manage your affairs, and it may not reflect your personal wishes.

In short, not having an estate plan increases the risk of wealth erosion through unnecessary taxes and probate costs, familial conflicts, and a delay in asset distribution. Proactively creating an estate plan allows you to avoid these issues. It also provides you the knowledge that your assets will be safeguarded and your loved ones will be cared for in the manner you intend.

Yes. If you are married, the all-in-one package will include a comprehensive estate plan for both spouses and a joint revocable trust.

Yes. A licensed Nevada attorney from Hogan Hulet PLLC (Jeff Hulet or Ken Hogan) will prepare and review your all-in-one estate plan, along with a consult with you directly to answer your questions.

Your all-in-one estate plan will be prepared and ready for you to sign within seven days from when you return the intake form and provide payment.

We prefer payment via credit card, but we also take all forms of payment - cash, check, or wire.