Recent Blog Posts
What is an Estate Advancement?
Creating an estate plan is a great way to take care of our loved ones after we pass. However, sometimes our loved ones need help during our lifetimes. One way to take care of the financial needs of our beneficiaries before we pass is through an estate advancement. An estate advancement is a lifetime… Read More »
Estate Planning Matters: What Happens If You Don’t Have a Will
If you care about who will receive your assets after you pass away, then estate planning matters. A will gives you more control over the transfer of assets from your estate than if you do not have a will. Estate planning can be done without a will, but establishing a will is one of… Read More »
What Documents Will You Need for Proper Estate Planning?
The documents you’ll need to meet your estate planning objectives depends on what your needs are. It’s possible you may need a very comprehensive estate plan, or it is possible you may need very few documents. At Lee Kiefer & Park, we thoroughly discuss with our clients their estate planning wants and needs to… Read More »
What Happens to My House if I Die Without a Will in Nevada?
What happens to your house if you die without a will depends on many factors, such as whether or not you’re married, if you have children, how much debt and other expenses you have, etc. If you have sufficient other assets to pay your debts and final expenses, then your house will pass to… Read More »
Which Assets are Exempt from Probate in Nevada?
When an individual dies owning assets in his or her individual name, the process by which the individual’s assets are transferred to his or her heirs is through a court proceeding known as “probate.” In some cases, a probate may not be necessary or may be accomplished through simplified proceedings. For example, if there… Read More »
What Happens to a Joint Bank Account When One Owner Dies Without a Will in Nevada?
Joint bank accounts may be useful for spouses, family members, and business partners who share expenses or help each other with their finances. However, multiple owners can create some issues, including who takes ownership if one account owner passes away without a will. Contact our estate planning lawyers to help you navigate the next… Read More »
What is Estate Tax Portability, and How Can It Help Me?
Federal estate taxes only apply to wealthier individuals, and portability is a way to reduce the burden on a married couple. This practice allows an unused tax exemption to be used by the surviving spouse as long as the right IRS form is used. It’s a small price to pay if it helps your… Read More »
Does a Surviving Spouse Inherit Everything in Nevada?
As with just about every legal question, the answer to this is: it depends. Generally, if a married person passes away owning only community property, or if a married person passes away owning separate property, but has no surviving children, no surviving parents, no surviving siblings, and dies without a will or other type… Read More »
Reducing the Taxable Estate in Nevada
When an individual’s “estate” (i.e., the total value of all assets owned by that individual at the time of death) reaches a certain value, the individual will have to pay estate tax at the time of death. This means that the individual’s heirs will forfeit a portion of their inheritance to the estate tax…. Read More »
Nine Financial To-Dos to Help You Stay on Track in 2024
It may be hard to believe, but it’s 2024. You probably have a lot going on, so time passes quickly. You spend much more time earning money than thinking about how to make the most of it. Financial planning and making the right money decisions are an ongoing task. If you don’t take time… Read More »
