Recent Blog Posts
Debt: When I Die Having debt, What Happens to The Liability? Does It Go Away?
One of the hardest things to do in life is avoid debt. In the world today, we have so many attractive products that push us to spend beyond our means in addition to the common desire to own a home and car. This debt comes in many forms. Examples include a loan for a… Read More »
Trustees: How does a Trustee account for their actions In Managing the Trust?
People all over the world spend a lifetime chasing dreams and building a life. Most people want to have a say in what happens to the property they acquire after their death. This desire leads many to create estate planning documents that lay out distributions of assets. As a way to keep order and… Read More »
I’m the Trustee and a Beneficiary: If I Neglect My Duty, Can I Lose My Inheritance?
It is common to be listed as both the Trustee and Beneficiary of a Trust, but it is important to remember that both roles have different responsibilities. If you are both the Trustee and Beneficiary and the Trust explicitly states that you can lose your inheritance for neglecting your duties, it is best to… Read More »
Probate Process: What Does It Mean to Close An Estate And How Much Will It Cost?
If you talk to anyone that has served as a personal representative, or anyone that has been a beneficiary of a Will, they will both tell you the same thing. Both will say they would like the process to go faster. For a personal representative to finish their duties and for beneficiaries to receive… Read More »
How to Choose a Nevada Probate Lawyer to Handle your Needs
Unfortunately, the time has come. A loved one has passed away. If the decedent had a will, the decedent named an executor – you. Or if the decedent died intestate (without a will), it turns out that you might be the one whom the law selects to be administrator of the estate. There could be… Read More »
Challenges to Trusts or Wills: What Did the Settlor or Testator Intend?
The passing of a parent can cause discord within a family. This is especially true when a parent has left assets for their children. The children might not be convinced that the parent meant to leave assets in the way a will or trust states. Or the children might be dissatisfied by how the… Read More »
What is a Breach of Fiduciary Duty in Nevada?
A recent Nevada law expanded the fiduciary duties of financial professionals. In Nevada, financial planners, trustees, investment advisors, and other professionals must make disclosures to their clients about fees, insurance, investments and other actions. Fiduciaries must put their client’s interests ahead of their own interests.
What is a Nevada Undue Influence Claim?
People, especially the elderly, are often vulnerable to undue influence when creating a will or trust or making other estate planning decisions. When a court determines that undue influence was a factor in the terms of a document, the claim may be filed.
Early Termination of a Nevada Trust
Trust documents usually describe specific terms and circumstances for when trusts terminate. Nevada law specifies that interested parties (e.g., trustees or beneficiaries) may ask a Nevada probate court to terminate a trust if continuing the trust is no longer feasible or economical.
Defending a Lawsuit as a Nevada Trustee
Unless you are both the trustee and sole beneficiary of a trust, being a trustee can be a very difficult and thankless job. Trustees have a responsibility to follow the terms of the trust and protect the interests of the beneficiaries. But, beneficiaries, co-trustees, or creditors may contest your actions as trustee because they feel you did not fulfill your obligations.
