You spend your days handling immediate tasks and juggling responsibilities. In the process, long-term goals often fall by the wayside. If you’ve meant to update—or even begin—your estate plan, you’re not alone. Many Nevada residents say they simply haven’t gotten around to it. One way to break the cycle is through a personal or family planning retreat that helps you prioritize what matters most, including your estate planning strategy.
Estate planning is easy to delay. It doesn’t shout for your attention the way work deadlines, family obligations, or health appointments do. But when you create space to reflect—such as through an annual planning retreat—you give yourself the opportunity to make proactive decisions that support your values, protect your family, and build long-term security.
By stepping out of your daily environment, you reduce distractions and increase focus. Whether your retreat is a weekend getaway or a quiet day at home, it becomes a protected space for planning. You don’t have to complete everything, but you can finally move forward on the estate planning tasks you’ve been meaning to address—like choosing a guardian or making a list of your assets.
During your planning retreat, you might explore goals around career, family, or finances. Be sure to include estate planning in your reflection. If you've recently experienced life changes—like marriage, parenthood, a home purchase, or the loss of a loved one—those moments should trigger updates to your estate plan.
Estate planning is often misunderstood as something only the wealthy need. In truth, it’s about ensuring that your wishes are respected and your loved ones are provided for. A retreat allows you to think through these important topics without urgency. Consider what you would want to happen if you were no longer able to make decisions. Who would speak on your behalf? Who would care for your children? These are the kinds of decisions a well-structured Nevada estate plan puts in writing.
The difference between a wish and a goal is a plan. During your retreat, use goal-setting frameworks to turn estate planning ideas into next steps. Write them down, assign deadlines, and make them actionable.
Start by listing estate planning goals like:
Once you’ve written these goals down, you can outline steps toward each one. Maybe the first step is researching Nevada estate planning laws or scheduling a consultation with an attorney. Creating a checklist provides structure and accountability. When you return to your daily life, you’ll have a roadmap in hand—not just a vague sense of needing to “get to it.”
Estate planning is more than paperwork. It’s an exercise in clarifying what matters most and aligning your plans with those values. A retreat gives you the space to think about your legacy: What do you want to leave behind? How should your estate benefit the people and causes you care about?
Use this time to reflect on questions like:
You can also use the time to write personal letters to your loved ones or document preferences that may not appear in formal legal documents but still carry emotional weight. Then, when you're ready, a Nevada estate planning attorney can help formalize those intentions in a legally valid and enforceable way.
Every state has different laws governing probate, guardianship, and property distribution. In Nevada, these laws can impact everything from who inherits your assets to how long your family might wait for access to them. That’s why it’s essential to work with an attorney who understands the local landscape.
Whether you’re setting up a simple will or a more advanced trust, taking time during a planning retreat to think through your Nevada-specific estate planning needs makes your legal preparations more meaningful. It ensures that your plan reflects your life as it is—and as it’s likely to evolve.
If you’ve been thinking about estate planning for years but haven’t started, you’re not alone. According to a recent Caring.com survey, fewer than one in four Americans have a will—and nearly half say they’ve put it off simply because they haven’t gotten around to it. But starting the process doesn’t have to be overwhelming. A planning retreat helps you break it into manageable steps.
Set aside a weekend, an afternoon, or even a quiet morning with a notebook and a plan. Reflect on what’s changed, what’s ahead, and what you want to put in place. Then take the next step by scheduling a meeting with a Nevada estate planning attorney like those at Anderson, Dorn & Rader who can help you turn your ideas into a legally sound plan.
A strong estate plan depends on more than documents—it depends on people. One of the most important choices you make is who will take over your trust when you can’t manage it anymore. In Nevada estate planning, this individual is called a successor trustee. You might be tempted to name a family member or close friend, but choosing the wrong person can derail your final wishes and create lasting problems for your loved ones.
This guide walks you through the impact of successor trustee selection, common pitfalls to avoid, and how to build flexibility into your plan. Whether you're creating your first trust or reviewing an existing one, thoughtful trustee planning can help ensure your intentions are honored long after you're gone.
In most revocable living trusts, you remain in control as the initial trustee for as long as you're alive and capable. You manage your assets, make financial decisions, and benefit from the trust’s contents. The successor trustee’s role only begins if you resign, become incapacitated, or pass away.
The transition to a successor trustee often occurs during times of stress or uncertainty. If your chosen trustee isn’t prepared—or if legal authority hasn’t been clearly established—this transition can lead to delays or conflict. Planning ahead makes all the difference.
We regularly advise clients to outline clear instructions within the trust and communicate their choices to family members and advisors. A qualified Nevada estate planning attorney can help ensure the transition happens smoothly, without costly court proceedings or confusion.
Naming a family member as trustee feels natural. After all, they know your values and understand your family's dynamics. But the reality of trust administration often proves more complex than many people anticipate.
Trustees are responsible for complying with fiduciary duties, filing tax forms, managing investments, making distributions, and more. Even well-meaning relatives can feel overwhelmed—especially when other beneficiaries question their decisions or if family tension already exists. In high-value estates, or those involving blended families, the risk of conflict increases significantly.
Professional or corporate trustees can serve as neutral administrators. They bring financial expertise, impartiality, and continuity to your trust. For many of our clients, combining a trusted family member with a corporate trustee as co-trustees strikes the right balance.
One of the biggest threats to the success of your estate plan is inflexibility. A trustee who becomes unresponsive, biased, or simply overwhelmed can block your plan from functioning as intended. If there’s no clear method for removing that trustee, your beneficiaries may be forced to seek court involvement—which drains time and resources.
Including removal provisions in your trust document adds a critical safeguard. These provisions can give authority to an independent advisor, trust protector, or even the beneficiaries to remove and replace a trustee when needed. It’s also possible to require cause or impose limits to prevent abuse of that power.
We encourage clients to view trustee removal clauses not as a sign of distrust, but as a practical mechanism for long-term success. When designed correctly, they protect your plan and give future generations options if the unexpected occurs.
Many Nevada trusts are designed to last well beyond the lifetime of the trustmaker. Some continue to support a spouse, children, and even grandchildren. That longevity means your trustee selection must look far beyond today’s circumstances.
Before naming someone, ask: Will they be available and capable in five, ten, or twenty years? Do they have the financial knowledge or professional support to handle complex decisions? Will personal relationships with other beneficiaries cloud their judgment?
A corporate trustee can serve indefinitely and meets fiduciary standards by design. They also bring consistency to long-term trusts—especially helpful in cases where your spouse and children from previous relationships are both beneficiaries. In these situations, neutrality prevents the perception of favoritism and upholds your wishes more effectively.
Trustee selection is one of the most important—and most overlooked—aspects of effective estate planning. Many people rush this decision, thinking that a familiar name means fewer problems. But an unprepared or unsuitable trustee can disrupt even the most carefully drafted plan.
We recommend reviewing your trustee choices every few years, especially after life events like marriages, divorces, relocations, or major changes in wealth. If you already have a trust, but aren’t sure whether your chosen trustee is still the best fit, now is the time to revisit your documents.
Experienced Nevada estate planning attorneys like those at Anderson, Dorn & Rader should walk you through your options and help you build a plan that’s not only legally sound—but also equipped for real-life situations.
Disputes over wills and trusts can unravel even the strongest family bonds. These disagreements are often emotional, expensive, and time-consuming. For Nevada families, especially those in the Reno area, taking a proactive approach to estate planning can dramatically reduce the chances of conflict and help ensure your final wishes are carried out as intended.
As a team working closely with individuals and families in Northern Nevada, we've seen firsthand how proper planning can prevent stress and heartache. If you're preparing or revisiting your estate plan, here are four practical ways to protect your legacy and reduce the risk of a will or trust contest.
Online legal templates or DIY estate planning software might look convenient, but Nevada law has specific requirements that must be followed to ensure a valid estate plan. Minor errors in language, missed signatures, or vague provisions can be all it takes to create openings for disputes.
Partnering with a trust attorney who understands the nuances of Nevada law helps close those gaps. A properly drafted and executed plan helps demonstrate clear intent and adherence to legal formalities—making it harder for anyone to question its validity later. Legal professionals at our firm have worked with Reno residents for decades, crafting personalized estate plans that minimize conflict and withstand scrutiny.
Customizing your documents to fit your unique needs not only strengthens the plan legally but also supports your wishes ethically. From guardianship decisions to complex asset structures, having a local trust attorney on your side can offer the legal foundation your family needs.
Transparency with family members is one of the most underrated ways to avoid disputes. While you aren't obligated to reveal every detail, informing key people that a plan exists and sharing where important documents are stored can go a long way.
We often recommend setting up a family meeting to communicate the broad strokes of your estate plan. This isn’t about negotiating with beneficiaries, but about clarifying your intentions in a respectful setting. When adult children or loved ones know what to expect, they are less likely to be shocked or angered later—emotions that often fuel contests.
This is especially true in cases where distributions may be unequal or when provisions are based on specific behaviors or conditions. Providing space for questions while you're still able to offer answers can eliminate confusion and preserve relationships.
Every family has its unique story. For some, that includes concerns about a beneficiary's financial habits, health, or outside influences like creditors or divorce. Discretionary or staggered-distribution trusts allow you to create tailored instructions that manage how and when your assets are transferred.
You may want to provide for a child while shielding their inheritance from misuse. Or perhaps you want to encourage certain life milestones—such as completing higher education or maintaining employment—before full access is granted. These trust structures offer flexibility while maintaining protection.
Naming a neutral third party, like a professional trustee or trust company, can further safeguard the assets and minimize family tension. A well-structured trust empowers you to provide for your loved ones while protecting them from potential pitfalls.
An outdated estate plan can invite more questions than it answers. Changes in family structure, financial status, or even state law can all affect the relevance and validity of your documents.
We recommend reviewing your estate plan every 3–5 years or after any major life event: marriage, divorce, birth of a child or grandchild, acquiring or selling property, or changes in your health. When updates are made consistently, they demonstrate an ongoing commitment to your plan—a fact that can reduce the likelihood of successful challenges.
Keeping your documents up to date also provides peace of mind that your plan still aligns with your values and wishes. It’s not just about legality; it’s about leaving a legacy that reflects who you are.
Your estate plan should bring peace, not problems. Whether you're starting from scratch or updating an existing plan, our team works with you to anticipate and address the issues most likely to cause conflict.
Avoiding a will or trust contest requires more than just paperwork. It takes forethought, clear communication, and legal guidance from professionals who know the Reno landscape. Each situation is different, and each plan deserves care that reflects that difference.
By applying these four strategies, you're not only protecting your estate, you're helping your family move forward together with clarity and unity.
Marriage marks the beginning of an exciting new chapter in life. While newlyweds often focus on building their future together, estate planning is an essential step that should not be overlooked. Establishing a solid estate plan ensures financial security, protects loved ones, and prevents unnecessary legal complications. Consulting a Nevada estate planning attorney can help couples navigate state-specific laws and make informed decisions about their assets and future responsibilities.
Newly married couples often merge their finances by opening joint accounts, acquiring property together, and sharing expenses. This financial integration is an ideal time to consider how these assets will be managed and protected in the long term.
Even if a couple does not yet have significant assets, estate planning is still critical. Nevada operates under community property laws, meaning that assets acquired during the marriage are generally considered jointly owned. However, without proper documentation, disputes or unintended distributions may occur. A well-structured estate plan can clarify how assets should be distributed, ensuring that both partners' wishes are legally protected.
A will or revocable living trust can provide clear instructions on asset distribution while avoiding probate. Additionally, updating beneficiary designations on life insurance policies, retirement funds, and investment accounts ensures that a spouse is properly accounted for. An estate planning attorney can guide couples in structuring these elements to align with their long-term goals.
Estate planning is not just about preparing for the future after death. It also involves making provisions for unexpected events during life. Powers of attorney are essential legal documents that allow a spouse or another trusted individual to make decisions on behalf of a partner in case of incapacitation.
A financial power of attorney grants a spouse the authority to handle financial matters, such as managing investments, paying bills, or selling property if one partner is unable to do so. A medical power of attorney designates a spouse to make healthcare decisions on behalf of the other, ensuring that their wishes are followed during medical emergencies. Without these documents, legal complications and delays in decision-making may arise.
Nevada law allows couples to tailor these documents to fit their specific needs. Consulting an experienced estate planning attorney ensures that these powers are legally enforceable and align with a couple’s unique circumstances.
Probate is a legal process that can delay asset distribution and incur significant costs for heirs. Establishing a revocable living trust is an effective way to bypass probate and provide financial security for a spouse and other beneficiaries.
A trust allows assets to pass directly to designated beneficiaries without court intervention, ensuring privacy and efficiency. Trusts also provide flexibility in managing assets during life and after death, allowing individuals to set conditions for distributions. This can be particularly beneficial for blended families or couples planning for future children.
Working with a Nevada estate planning attorney can help newlyweds determine whether a trust is the right tool for their situation. Ensuring that the trust complies with state laws and includes the necessary provisions for asset protection is a crucial step in the estate planning process.
For couples planning to have children, estate planning takes on added importance. Naming legal guardians and establishing financial protections are essential steps in securing a child’s future.
A will allows parents to designate guardians who would care for their children if both parents were to pass away. Without this designation, custody decisions may be left to the court system, which may not align with the parents’ wishes. Additionally, setting up a trust for minor children ensures that their financial needs, such as education and healthcare, are met until they reach an appropriate age to manage their inheritance.
Addressing these considerations early allows newlyweds to create a comprehensive estate plan that evolves as their family grows. An attorney can provide guidance on the best strategies for safeguarding a child’s future and ensuring a seamless transition of assets.
Navigating estate planning without legal guidance can be challenging, especially with Nevada’s specific laws regarding community property, probate, and trusts. An experienced estate planning attorney helps couples create legally sound documents that reflect their goals while ensuring compliance with state regulations.
From drafting wills and trusts to establishing powers of attorney, an attorney provides essential support in structuring an estate plan that protects both spouses and their future children. By working with a professional, couples can gain peace of mind knowing that their assets and loved ones are secure.
Estate planning is an essential step for newly married couples in Nevada. Whether merging assets, securing healthcare decisions, or planning for future children, having a clear legal plan in place ensures long-term financial stability. Contact Anderson, Dorn & Rader Ltd. in Reno to start building a comprehensive estate plan that aligns with your new life together.
Michael Jackson’s estate remains in legal limbo more than 15 years after his passing. Despite having a will and trust, the estate has faced ongoing tax disputes, legal battles, and family conflicts. The recent $600 million sale of Jackson’s music catalog to Sony further highlights the complexities of estate planning, particularly when large assets and multiple heirs are involved.
This case underscores why individuals—whether high-net-worth or middle-income—need a well-structured estate plan that accounts for probate, trust funding, and executor responsibilities. Working with a Nevada estate planning attorney can prevent many of the complications seen in high-profile estates like Jackson’s.
Even with a valid will and trust, Jackson’s estate remains unsettled, largely due to tax disputes with the IRS and ongoing legal challenges. The probate process has kept many of his assets tied up for over a decade, leaving his heirs without full control over their inheritance.
Proper estate planning minimizes delays, protects beneficiaries, and keeps financial matters private. Without a Nevada estate planning attorney, even well-drafted wills and trusts can lead to prolonged legal battles.
Jackson’s estate has been managed by professional executors, rather than family members, which has helped maximize the value of his assets. However, disputes still arose when his mother objected to the Sony deal, arguing that it went against Jackson’s wishes.
Having an estate plan is not enough—it must include clear guidance on who manages assets, how decisions are made, and what authority executors have to prevent family disputes.
While Jackson had a revocable trust, not all of his assets were transferred into it during his lifetime. This created unnecessary probate involvement and legal disputes that could have been avoided.
For individuals with real estate, business assets, or intellectual property, a comprehensive trust strategy is essential to preserving their legacy.
Jackson’s estate plan included structured distributions for his children, ensuring they would receive their inheritance at staggered ages rather than in a lump sum. This kind of planning is crucial for protecting young heirs from financial mismanagement and external threats.
Individuals of all income levels benefit from structured estate plans that protect their families from unnecessary legal complications and financial risks.
Michael Jackson’s estate serves as a cautionary tale about the potential pitfalls of estate administration. While his estate was complex, many of the challenges it faced—probate delays, family disputes, and tax liabilities—are common in estate planning.
A Nevada estate planning attorney can help individuals avoid similar complications by:
Proper estate planning provides peace of mind, allowing individuals to focus on their families while ensuring their wishes are carried out efficiently and privately.
High-profile cases like Michael Jackson’s estate demonstrate the importance of proactive estate planning. Whether someone has extensive assets or simply wants to protect their family from probate delays, working with a Nevada estate planning attorney is essential.
Anderson, Dorn & Rader Ltd. provides expert guidance for individuals looking to create a comprehensive estate plan tailored to their needs. With proper planning, families can avoid legal disputes, protect their wealth, and ensure their wishes are respected.
Many newlyweds assume estate planning is something to think about later in life or after starting a family. However, without a proper estate plan, Nevada state law will determine how assets are distributed, which may not align with a couple’s wishes. Estate planning ensures financial security, protects assets, and prevents unnecessary legal complications.
For those who believe joint ownership or a prenuptial agreement is sufficient, it’s important to understand that estate planning goes beyond these arrangements. This article explores common myths and frequently asked questions about estate planning for newlyweds and explains why having a well-structured plan is essential.
A common misconception is that jointly owning all assets means an estate plan is unnecessary because the surviving spouse automatically inherits everything. While joint ownership can ensure a seamless transfer in many cases, there are significant risks to consider:
A comprehensive estate plan ensures that assets are protected, properly distributed, and managed in the event of incapacity.
A prenuptial agreement is designed to clarify asset distribution in case of divorce or death, but it does not address all essential estate planning concerns. Couples relying solely on a prenup may face unexpected legal challenges.
A well-structured estate plan provides security beyond what a prenuptial agreement offers by ensuring financial and medical decisions are properly managed.
Even without children, newlyweds need to consider how their assets will be handled in case of incapacity or death. Many assume their spouse will automatically inherit everything, but this is not always the case.
Creating a Nevada estate plan early in marriage helps avoid complications and ensures assets are managed according to the couple’s wishes.
Some newlyweds hesitate to start estate planning if they anticipate moving in the near future. However, delaying estate planning can leave a couple unprotected in an emergency.
Newlyweds should take proactive steps now to establish estate planning protections rather than waiting until after a move.
Estate planning is a crucial step for newlyweds looking to protect their assets, ensure financial security, and avoid legal complications. A well-structured estate plan provides protections that joint ownership and prenuptial agreements alone cannot offer.
Couples ready to take control of their financial future should schedule a consultation with Anderson, Dorn & Rader Ltd.. Their team of experienced Nevada estate planning attorneys can help create a customized plan tailored to each couple’s unique needs.
Estate planning is an essential step in protecting assets, ensuring financial security, and avoiding unnecessary legal complications. Many individuals delay this process due to confusion about the differences between a will, a living trust, and what happens when someone dies intestate (without a will or trust). Without proper planning, Nevada law dictates how assets are distributed, which may not align with an individual’s wishes.
A living trust in Nevada offers significant advantages over a will alone, including avoiding probate, maintaining privacy, and ensuring a smooth transition of assets. Understanding these differences helps individuals make informed decisions that provide lasting benefits for their loved ones.
When a person dies without a will or trust, Nevada’s intestacy laws determine how their assets are distributed. This legal process, known as probate, can be time-consuming, costly, and public.
A living trust in Nevada eliminates these uncertainties by providing clear instructions on asset distribution, ensuring heirs receive their inheritance efficiently and privately.
A will allows individuals to specify asset distribution and nominate guardians for minor children. However, it does not eliminate the need for probate.
While a will is a crucial component of estate planning, it does not offer the same level of efficiency and control as a living trust in Nevada.
A revocable living trust allows individuals to transfer assets into a trust, ensuring a seamless transition of wealth without court involvement.
For individuals seeking a more secure and efficient way to manage their estate, a living trust in Nevada offers the best solution.
Despite their benefits, some individuals hesitate to create a trust due to common misconceptions.
Understanding these realities helps individuals make informed decisions about their estate planning.
Estate planning is a proactive measure that ensures financial security and peace of mind. A living trust in Nevada provides essential benefits that a will alone cannot offer, including privacy, probate avoidance, and structured inheritance distribution.
Individuals ready to secure their future should contact Anderson, Dorn & Rader Ltd. Their experienced estate planning attorneys can create a customized plan tailored to specific needs and goals.
Life insurance is often considered a cornerstone of estate planning. It provides immediate liquidity for beneficiaries through tax-free lump-sum payments, covering final expenses, replacing lost income, and funding trusts. While essential, life insurance has limitations. Relying solely on it in your Nevada estate plan can leave gaps, creating unforeseen challenges for loved ones.
Effective estate planning requires a holistic approach. Life insurance is just one tool in a broader strategy designed to protect your legacy and provide for your beneficiaries. Anderson, Dorn & Rader Ltd. specializes in creating comprehensive estate plans that integrate life insurance with other critical elements, ensuring that your goals are met and potential risks are mitigated.
Life insurance policies, while flexible, are not without constraints. Terms and exclusions in policies can leave beneficiaries without the expected financial support. For example, term life insurance only provides coverage within a specific timeframe, and employer-provided life insurance often ends when employment ceases. Additionally, exclusions for high-risk activities or incomplete applications can nullify coverage.
Understanding these limitations is critical. Policyholders must regularly review their policies to ensure that coverage aligns with their current needs and life circumstances. Failure to address these risks may result in unintended outcomes, such as delays in payouts or no payout at all.
Integrating life insurance into a comprehensive estate plan is key to maximizing its benefits. While life insurance provides liquidity, it should work in tandem with tools like wills and trusts to avoid probate complications and minimize tax burdens.
A Nevada estate plan that includes life insurance can address various financial needs, from covering estate taxes to equalizing inheritances. For instance, life insurance proceeds can ensure a fair division of assets when property or other investments are difficult to split among heirs. By pairing life insurance with other estate planning tools, families gain financial stability and peace of mind.
Naming beneficiaries on a life insurance policy might seem straightforward, but improper designations can lead to legal challenges. Failure to name primary and contingent beneficiaries may result in the death benefit going to the estate, subjecting it to probate.
Additionally, naming minor children or individuals who lack mental capacity as beneficiaries can complicate the distribution process. Establishing a trust as a beneficiary allows the policyholder to control how the proceeds are managed, ensuring they are used as intended for education, living expenses, or other priorities.
An estate planning attorney can ensure that life insurance aligns with your broader financial goals. Whether it’s funding a trust, paying estate taxes, or supporting a surviving spouse, integrating life insurance into a comprehensive strategy provides clarity and protection.
Anderson, Dorn & Rader Ltd. works closely with clients to evaluate their life insurance policies, identify potential gaps, and create estate plans that address both short-term needs and long-term goals. With professional guidance, you can ensure that your loved ones are financially secure and that your estate reflects your wishes.
Estate planning is about more than purchasing a life insurance policy—it’s about creating a roadmap for the future. Contact Anderson, Dorn & Rader Ltd. today to schedule a consultation. Their experienced team specializes in Nevada estate planning, helping families protect their assets, reduce tax liabilities, and secure their legacy for generations to come.
Understanding the Purpose of a Special Needs Trust
A special needs trust (SNT) is a powerful tool for providing financial security to individuals with disabilities without jeopardizing their eligibility for needs-based government benefits like Supplemental Security Income (SSI) and Medicaid. These trusts are carefully structured to ensure that funds supplement—rather than replace—the support provided by government programs.
At the heart of every special needs trust is the trustee. This individual or entity has a critical role in managing the trust’s assets, adhering to complex regulations, and ensuring the funds enhance the beneficiary’s quality of life. Proper administration is key to maintaining eligibility for benefits while meeting the unique needs of the beneficiary.
Fulfilling Fiduciary Responsibilities with Special Needs Trust Management
A trustee’s fiduciary responsibility is one of the most important aspects of managing a special needs trust. This duty requires the trustee to act solely in the best interest of the beneficiary, ensuring that every decision aligns with the trust's purpose.
To meet these obligations, trustees must manage the trust’s assets prudently. This involves diversifying investments, minimizing risks, and maximizing returns to ensure the long-term sustainability of the trust. Avoiding conflicts of interest is equally essential. Trustees must maintain transparency and integrity in all actions, upholding their commitment to the beneficiary’s welfare.
Ensuring Compliance with Government Benefit Regulations
Special needs trusts are subject to stringent rules governing SSI and Medicaid benefits. Unauthorized use of trust funds can lead to penalties, reductions in benefits, or even disqualification from programs. For trustees, understanding and adhering to these regulations is crucial.
For example, SNT funds cannot be used for basic support expenses like rent or utilities, as these are considered “in-kind support and maintenance” by SSI and treated as unearned income. However, funds can cover supplemental needs such as education, entertainment, and specialized medical care. Trustees must carefully navigate these restrictions to avoid jeopardizing the beneficiary’s eligibility.
A knowledgeable trustee will also ensure that all disbursements are made directly to service providers rather than the beneficiary to maintain compliance. By managing distributions with precision, trustees preserve the trust’s purpose and the beneficiary’s benefits.
Managing Finances and Keeping Detailed Records
The financial management of a special needs trust is another critical responsibility for trustees. This involves handling investments, paying taxes, and covering trust-related expenses like legal and administrative fees. To do this effectively, trustees must maintain accurate and detailed records of all transactions.
Proper record-keeping ensures transparency and facilitates required reporting to government agencies. It also protects trustees from legal disputes or accusations of mismanagement. For beneficiaries, this level of accountability provides peace of mind, knowing the trust is being administered responsibly.
In cases where the trustee lacks financial expertise, enlisting professional guidance can help ensure the trust’s assets are managed efficiently and in compliance with applicable laws.
Personal Engagement with the Beneficiary
While financial management is vital, trustees must also engage personally with the beneficiary to understand their unique needs and preferences. This personal connection allows trustees to make informed decisions about disbursements, tailoring the trust’s support to enhance the beneficiary’s quality of life.
For example, funds might be allocated for therapeutic programs, assistive technology, or recreational activities that align with the beneficiary’s interests. Trustees should also communicate regularly with caregivers and medical professionals to stay updated on the beneficiary’s changing circumstances.
By balancing personal engagement with administrative duties, trustees ensure the trust serves its intended purpose while respecting the dignity and individuality of the beneficiary.
Why Expert Guidance Matters
The complexities of managing a special needs trust can be overwhelming, even for experienced trustees. Regulations are intricate, and mistakes can have significant consequences for the beneficiary’s financial and personal well-being.
Families in Reno can benefit from working with Anderson, Dorn & Rader Ltd., whose team specializes in helping clients establish and manage special needs trusts. Whether acting as trustees or providing advisory services, their expertise ensures that every aspect of the trust is handled with care and compliance.
Next Steps for Families and Trustees
After understanding the trustee’s role in managing a special needs trust, it’s essential to assess your current or planned trust to ensure it aligns with the beneficiary’s needs. Consulting with a professional can provide clarity, reduce stress, and help avoid costly mistakes.
Anderson, Dorn & Rader Ltd. offers expert guidance to families and trustees in Reno, providing peace of mind and confidence in managing a special needs trust. Contact our team today to learn how they can assist you in securing your loved one’s future.
Planning for the future involves making thoughtful decisions about how your assets will be distributed and ensuring that your wishes are carried out. For parents with an only child, estate planning presents unique considerations. While having one child simplifies certain aspects, it also requires tailored strategies to address potential challenges. By working with a Nevada estate planning attorney, families can create a plan that reflects their values and priorities while safeguarding their child’s future.
In recent decades, one-child families have become increasingly common. Census data shows that the average family size in the United States has decreased, with one-child households now accounting for about 22% of families. These shifts challenge traditional stereotypes, including the outdated notion of “only child syndrome.” Modern research reveals that only children develop social skills similar to those with siblings, making this family dynamic more normalized than ever.
For parents in Nevada, these societal changes underscore the importance of estate planning that aligns with modern realities. Creating a plan for an only child involves balancing practical considerations, such as inheritance, with emotional factors, like preserving family harmony.
Parents of only children often find themselves in a better position to provide for their child financially. Forgoing multiple children can mean more resources are available for education, healthcare, and long-term support. However, this economic advantage comes with its own complexities.
One key consideration is the role the child plays in managing the estate. Naming an only child as the sole decision-maker can be straightforward, but it’s not always the best option. Tasks such as acting as an executor, trustee, or power of attorney require specific skills, and overburdening a child with multiple responsibilities can lead to unnecessary stress.
Studies indicate a disconnect between parents’ estate planning intentions and their children’s expectations. For example, a Northwestern Mutual study found that while 32% of millennials and 38% of Gen Z expect an inheritance, only 22% of their parents plan to leave one. Addressing these gaps is crucial for ensuring everyone involved understands the estate plan’s goals.
Parents may also choose to use trusts or conditional gifting to protect their child’s inheritance. Trusts allow parents to distribute funds based on milestones, such as completing a degree or starting a business. These tools ensure that the inheritance serves the child’s long-term interests without overwhelming them.
One of the most critical aspects of estate planning is naming individuals to key roles, such as executor, trustee, or power of attorney. While it might seem logical to assign these responsibilities to your only child, this decision should be carefully evaluated.
Key questions to consider include:
If the answer to any of these questions is no, parents can explore alternative options. Trusted family members, close friends, or professional fiduciaries can step in to ensure the estate is managed competently. Dividing responsibilities among multiple individuals can also provide checks and balances, reducing the potential for conflict.
Parents often struggle to balance practical decisions with the unconditional love they feel for their child. This tension becomes especially apparent when creating an estate plan. While it’s natural to want to leave everything to an only child, there may be good reasons to distribute assets among other loved ones or causes.
For example, parents may choose to allocate a portion of their estate to charities or other family members. Such decisions can reflect broader values while still providing for their child’s needs. Working with a Nevada estate planning attorney helps parents navigate these choices while ensuring their plan is both fair and legally sound.
Navigating the complexities of estate planning requires professional guidance. Anderson, Dorn & Rader Ltd. offers expert advice tailored to the needs of Nevada families. By consulting with experienced attorneys, parents can create a plan that protects their assets, honors their wishes, and secures their child’s future.
Estate planning is not a one-size-fits-all process. For families with an only child, creating a thoughtful plan involves addressing unique challenges and opportunities. To get started, consult with a Nevada estate planning attorney who understands the nuances of your situation. Contact Anderson, Dorn & Rader Ltd. today to schedule a consultation and begin building a plan that works for you and your family.
James Earl Jones, a legendary actor known for iconic roles such as Darth Vader in Star Wars and Mufasa in The Lion King, passed away at age 93, leaving behind a remarkable legacy. His contributions to film, theater, and television are unforgettable, but his approach to estate planning offers valuable lessons for individuals in Nevada. While details of his estate remain private, the principles reflected in his life provide critical insights into the importance of thoughtful planning.
For Nevada residents, estate planning is not only about distributing assets but also about safeguarding privacy, addressing family dynamics, and leaving a legacy that reflects personal values. By working with an experienced Nevada estate planning attorney, such as Anderson, Dorn & Rader Ltd., families can create tailored plans to ensure their wishes are honored.
One of the most significant estate planning tools James Earl Jones likely used was a trust. Trusts offer a way to manage and transfer assets while maintaining privacy. Unlike wills, which become public record during probate, trusts keep financial matters confidential. This approach aligns with Jones’s preference for privacy, both in life and in death.
For Nevada residents, trusts provide an opportunity to bypass probate entirely. This can save time, reduce legal costs, and prevent unnecessary public scrutiny of personal finances. Whether you are protecting real estate, business interests, or personal assets, trusts are a cornerstone of effective estate planning. A Nevada estate planning attorney can guide families in establishing trusts that align with their goals and ensure seamless asset management.
James Earl Jones’s family structure, including his son Flynn and extended relatives, demonstrates the complexities that can arise when creating an estate plan. Balancing the needs of an only child, step-relatives, or other beneficiaries requires careful consideration. In Nevada, addressing these dynamics can prevent future disputes and ensure that all parties feel fairly treated.
Estate plans in Nevada often incorporate trusts and conditional gifts to address unique family circumstances. For instance, parents may establish trusts for a single child while designating other assets for extended family or charitable causes. Additionally, including clear instructions in estate planning documents minimizes ambiguity and helps loved ones navigate decisions with confidence.
Balancing family relationships in estate planning is an essential step for Nevada residents, and Anderson, Dorn & Rader Ltd. offers the expertise to navigate these complexities effectively.
James Earl Jones’s decision to accept a lump sum payment for voicing Darth Vader, rather than a share of profits, serves as a cautionary tale. This choice cost him millions of dollars in potential earnings, underscoring the importance of foresight in financial decisions. Similarly, estate planning mistakes—such as failing to account for future financial growth or not updating plans to reflect life changes—can have lasting repercussions.
In Nevada, estate plans must be dynamic, adapting to evolving family circumstances, financial situations, and legal changes. Regular reviews with a Nevada estate planning attorney ensure that plans remain effective and aligned with current goals. Avoiding costly oversights starts with seeking professional guidance to create and maintain a comprehensive plan.
James Earl Jones’s charitable spirit was evident in his support for causes like the Make-A-Wish Foundation and Habitat for Humanity. Including philanthropy in an estate plan not only reflects personal values but also offers financial benefits, such as tax deductions. For Nevada residents, charitable giving can be seamlessly integrated into estate planning strategies through mechanisms like charitable trusts, donor-advised funds, or direct bequests.
A Nevada estate planning attorney can help identify the best options for incorporating philanthropy into an estate plan, ensuring that donations benefit chosen causes while optimizing tax savings. By including charitable giving in their plans, individuals can extend their legacies beyond their families, making a lasting impact on their communities.
The life and legacy of James Earl Jones underscore the importance of comprehensive estate planning. Whether through preserving privacy, addressing family dynamics, or supporting charitable causes, estate planning ensures that personal values and priorities are honored. For Nevada residents, the stakes are no less significant.
Anderson, Dorn & Rader Ltd. specializes in helping individuals and families create tailored estate plans that reflect their unique circumstances. By working with experienced attorneys, clients gain the peace of mind that comes from knowing their wishes will be respected and their loved ones protected.
Establishing a revocable living trust is a critical step in creating a well-rounded estate plan. Many individuals assume that setting up a trust automatically helps them avoid the complexities of Nevada probate. However, this isn’t always the case. Simply creating a trust is not enough; you must also ensure that your assets are properly transferred to the trust or have appropriate beneficiary designations.
Anderson, Dorn & Rader Ltd. in Reno specializes in Nevada estate planning. This article explores the essential factors that determine whether a living trust will help you avoid probate, what types of assets are subject to probate, and the consequences of not properly funding your trust.
For a revocable living trust to function as intended and bypass probate, it must be fully funded. Funding your trust involves transferring ownership of your assets—such as real estate, bank accounts, and investments—into the trust or naming the trust as a beneficiary.
For example, if you own property, you need to re-title it in the name of your trust. Similarly, financial accounts that you wish to include in the trust must have the trust named as the owner or beneficiary. Without this step, these assets will remain outside of the trust and may be subject to probate proceedings in Nevada.
Failing to properly fund your trust can negate the primary benefit of avoiding probate, leading to potential delays and additional costs for your heirs. Anderson, Dorn & Rader Ltd. can help you ensure all necessary assets are included in your trust.
Not all assets are automatically exempt from probate simply because you have a trust. Probate is required for assets titled solely in your name without a designated beneficiary or joint ownership agreement. Examples include:
Additionally, assets owned as tenants in common with another person will need to go through probate unless explicitly included in your trust or assigned to a beneficiary. A thorough estate plan accounts for these nuances, helping you avoid unexpected probate proceedings.
Certain assets are not subject to probate and will pass directly to beneficiaries upon your death. These include:
It’s important to ensure that beneficiary designations are updated and reflect your current wishes. Anderson, Dorn & Rader Ltd. offers personalized estate planning services to help align your beneficiary designations with your overall trust strategy.
Even with a well-prepared revocable living trust, if your assets are not transferred or titled correctly, they could still end up in probate. This creates additional burdens for your loved ones, who may need to navigate the probate process while managing your estate.
To address this issue, some individuals include a pour-over will in their estate plan. This type of will directs any unfunded assets to be transferred into your trust during probate. However, relying on a pour-over will is not an ideal solution—it still involves going through probate, which can delay the distribution of assets and increase legal fees.
The best approach is to work with estate planning professionals who can help you avoid the pitfalls of unfunded trusts. Anderson, Dorn & Rader Ltd. in Reno provides guidance on properly funding your trust to ensure that your assets are transferred efficiently and according to your wishes.
At Anderson, Dorn & Rader Ltd., we understand that each estate plan is unique. We take a personalized approach to ensure that your revocable living trust is fully funded and aligned with your goals.
Proper planning reduces the risk of probate and ensures that your assets are distributed smoothly to your heirs. Our team will help you review your trust, update beneficiary designations, and transfer assets as needed to avoid probate complications.
If avoiding probate is a priority for your estate plan, setting up a revocable living trust is only the beginning. You must also ensure that your assets are correctly transferred into the trust or designated with appropriate beneficiaries.
Contact Anderson, Dorn & Rader Ltd. in Reno for expert guidance on funding your trust and avoiding probate. Our personalized estate planning services will help ensure your trust operates as intended, protecting your assets and providing peace of mind for you and your loved ones.
When family members discover they’ve been left out of a parent’s estate plan, it can trigger feelings of confusion and frustration. With the ongoing wealth transfer between generations, many anticipate receiving an inheritance, but evolving financial realities often disrupt these expectations. For Nevada families, understanding the legal aspects of disinheritance is essential. Anderson, Dorn & Rader Ltd., a leading estate planning firm in Reno, offers expert guidance for individuals navigating these sensitive situations.
This article provides an overview of inheritance trends, explores possible legal challenges, and identifies when professional legal help is necessary to protect your interests.
According to financial experts, nearly $84 trillion will pass from older to younger generations by 2045, a phenomenon known as the “Great Wealth Transfer.” However, many adult children may not inherit as much as they expect.
Parents are living longer, spending more on retirement, and facing increasing healthcare costs, which can significantly reduce the wealth passed down. Surveys reveal that over half of millennials expect an inheritance of around $350,000 or more, but baby boomers often plan to leave far less. Some don’t plan to leave anything at all, having spent savings on long-term care or lifestyle expenses.
This mismatch in expectations highlights the importance of open family discussions. Anderson, Dorn & Rader Ltd. encourages families to engage in proactive estate planning conversations to avoid misunderstandings and provide clarity on inheritance plans.
In Nevada, children do not have an automatic right to inherit from their parents. If an estate plan explicitly disinherits someone, challenging it can be difficult. However, there are specific circumstances where contesting a will or trust may be legally valid.
Lack of mental capacity can provide grounds to contest an estate plan. If a parent was not of sound mind when drafting their will or trust, the document could be considered invalid. Additionally, undue influence—such as pressure from a caregiver or family member to alter the estate—may also lead to legal challenges.
Errors or misunderstandings are another valid reason to contest a will. For instance, if a parent mistakenly disinherited a child based on false assumptions, such as a belief that the child had financial issues or struggled with addiction, the will or trust may be challenged.
Successfully contesting an estate plan requires clear evidence and professional legal representation. Anderson, Dorn & Rader Ltd. specializes in navigating Nevada’s estate planning laws and offers personalized advice to evaluate your case.
It’s important to identify signs that something may have gone wrong during the estate planning process. A few red flags to watch for include unexplained changes to the estate plan, especially those made shortly before the parent’s death. These alterations can raise questions about undue influence or cognitive decline.
Unknown beneficiaries can also be a cause for concern. If significant assets are left to someone outside the family, such as a new acquaintance or recently involved organization, this may indicate manipulation. Similarly, if one sibling or caregiver receives the majority of the estate without a clear reason, it is worth investigating.
Anderson, Dorn & Rader Ltd. can help uncover inconsistencies in an estate plan and determine if legal intervention is necessary. Their experienced team knows how to gather evidence, analyze documents, and protect your interests through every step of the process.
Navigating estate plans and inheritance disputes without professional help can be overwhelming. Working with knowledgeable estate planning attorneys ensures that you understand your options and rights, minimizing the stress involved in these situations.
Anderson, Dorn & Rader Ltd. provides comprehensive estate planning services in Reno, helping clients access probate records, analyze estate documents, and develop legal strategies. If a parent’s estate plan has gone through probate, their attorneys can help obtain these records to identify beneficiaries and distributions.
The team also offers expert advice on legal strategies. Whether you suspect manipulation, need to access trust documents, or wish to contest an estate plan, their attorneys provide the support necessary to navigate Nevada’s probate courts effectively. Estate planning attorneys offer more than legal expertise—they provide clarity and peace of mind during a time of emotional uncertainty.
Taking the Next Steps with Confidence
If you have questions about your rights or suspect issues with a parent’s estate plan, Anderson, Dorn & Rader Ltd. in Reno is here to help. Their experienced team offers personalized guidance to determine your best course of action. Whether contesting a will, reviewing probate documents, or exploring your inheritance rights, their legal expertise ensures you navigate Nevada’s estate planning laws with confidence.
Why Professional Guidance Makes a Difference
Being excluded from a parent’s estate plan can be difficult, but understanding your legal options empowers you to take action. With trillions of dollars transferring between generations, having a clear plan is essential.
If you are dealing with disinheritance, knowing when to seek professional support is critical. Anderson, Dorn & Rader Ltd. provides expert estate planning services tailored to meet your specific needs, ensuring your questions are addressed and your rights protected.
Planning for your child's future is an important part of Nevada estate planning. Anderson, Dorn & Rader Ltd. understands that choosing the right individuals to care for your child and manage their financial assets requires careful thought. Deciding whether the same person should serve as both the guardian and the trustee is one of the most significant decisions parents must make. This article explores the roles, benefits, and challenges to help you make an informed choice that aligns with your family’s needs.
A guardian takes on the responsibility of raising your child if you are no longer able to do so. This includes making decisions about their education, healthcare, and emotional well-being. A trustee, on the other hand, manages any financial assets or inheritance left for your child, ensuring those resources are used wisely for their benefit.
Both roles are essential, but they require different skill sets. While a guardian focuses on providing emotional and physical care, a trustee must have the ability to manage finances responsibly. Anderson, Dorn & Rader Ltd. can help parents evaluate potential candidates to ensure each role is filled by the right person.
There are situations where appointing the same person as both guardian and trustee can simplify the process. This approach streamlines decision-making by ensuring consistency between your child's care and financial management. For example, the same individual can make informed choices about education or healthcare costs without needing approval from a separate trustee.
Choosing one person to serve in both roles can also prevent disagreements between the guardian and trustee, fostering a unified approach to your child’s upbringing and financial planning. This solution works well when you have complete trust in an individual’s ability to manage both responsibilities.
Despite the advantages, assigning both roles to one person may also present challenges. Managing a child’s emotional needs while handling their financial affairs can be overwhelming for a single individual. Even a well-intentioned guardian may struggle to keep up with budgeting, investments, or legal responsibilities without prior experience in financial management.
Another risk is the possibility of conflicts of interest. A guardian might unintentionally use the child’s assets for purposes that do not align with the original financial plan. Anderson, Dorn & Rader Ltd. advises parents to carefully consider these potential challenges before deciding.
Appointing different individuals as guardian and trustee can provide important checks and balances. The trustee focuses solely on managing finances, ensuring that funds are preserved and used appropriately over time. Meanwhile, the guardian can dedicate their attention to your child’s well-being without the added pressure of financial responsibilities.
By separating the roles, families reduce the risk of conflicts and ensure that each individual is best suited to their specific responsibilities. Anderson, Dorn & Rader Ltd. recommends this approach for parents who want to create a balanced structure of care and financial management.
When it comes to securing your child’s future, there is no one-size-fits-all solution. The decision to assign the same person as both guardian and trustee—or to split the roles—depends on your family’s unique circumstances. Anderson, Dorn & Rader Ltd. can help you evaluate the pros and cons of each option to design an estate plan that provides emotional stability and financial security for your child.
When planning for the future, few topics are more important than the care of your children and the protection of your assets. If something unexpected happens, ensuring your children are raised by someone you trust is essential. At Anderson, Dorn & Rader Ltd. in Reno, we understand the complexity of these decisions. One critical step is naming a guardian for your minor children and ensuring a sound financial plan that includes leaving an inheritance to grandchildren.
This article explores the importance of naming a guardian and trustee, financial planning for children’s future needs, and strategies to ensure that your legacy benefits your grandchildren.
In Nevada, if you don’t name a guardian, the court will make this decision for you, which may lead to unwanted outcomes. Judges are required to consider the child's best interests, but they do not know your personal values, preferences, or relationships. There is a risk that your children could end up with a relative you don't approve of or, in some cases, a stranger.
By naming a guardian, you gain control over who will raise your children and ensure their upbringing aligns with your values and vision for their future. Your selected guardian will step in to provide emotional support and continuity during a challenging time, following your wishes regarding their education, well-being, and daily life. This peace of mind can be invaluable for parents thinking long-term.
Selecting a guardian requires careful thought. Factors such as the relationship between the potential guardian and your children, their parenting style, and shared values are essential considerations. Stability is also crucial—how familiar your children are with the person, whether they live nearby, and if they can maintain your children’s current school, friendships, and routines.
It is also important to consider the guardian’s health, age, and long-term ability to care for your children. While grandparents may have time and experience, they may struggle with the physical demands of raising young children. On the other hand, younger guardians, such as siblings, may not be in a stable life stage to take on the responsibility.
Before making a decision, have open conversations with your chosen guardian to ensure they are comfortable taking on this role. Naming an alternate guardian provides an extra layer of security if your first choice cannot serve.
Raising children should not impose a financial burden on the guardian. Many parents plan ahead by designating funds through savings, life insurance, or other financial assets. These resources can cover essential needs like housing, education, healthcare, and daily living expenses.
When leaving an inheritance to grandchildren, it is wise to plan how these funds will be managed. Some parents also provide additional financial support, such as helping the guardian upgrade their home or buy a larger vehicle to accommodate their children comfortably.
Ensuring financial stability is crucial for your children’s future and eases the guardian’s responsibilities, allowing them to focus on providing emotional and practical care.
In many situations, it makes sense to assign separate individuals for the roles of guardian and trustee. While the guardian provides emotional and physical care, the trustee manages financial assets for your children or grandchildren. This division of responsibilities ensures that financial resources are used correctly, reducing potential conflicts of interest.
For example, a trusted family member who loves your children may not have the financial expertise to manage investments, life insurance payouts, or property assets. Appointing a trustee with financial experience ensures that funds are managed properly and distributed according to your wishes. This structure also creates accountability, preventing misuse of the inheritance meant to benefit your children or grandchildren.
If no guardian is named in your will or estate plan, a judge will decide who raises your children. In this situation, anyone—including estranged family members—can petition the court for custody. This process can lead to disputes among relatives and result in outcomes that may not align with your preferences.
Naming a guardian as part of your estate plan ensures the court respects your wishes. It also spares your children the emotional stress of uncertainty during an already difficult time.
Proactive estate planning, including naming a guardian and trustee, ensures that your children and grandchildren are protected. While these decisions are challenging, they are essential to creating a secure future for your family.
At Anderson, Dorn & Rader Ltd., we help families in Nevada develop customized estate plans. Whether you need guidance on naming a guardian or advice on leaving an inheritance to grandchildren, our team is here to help.
Planning for the unexpected is an act of love. Naming a guardian and planning financial support through life insurance or inheritance are critical steps in protecting your children’s future. At Anderson, Dorn & Rader Ltd., we offer personalized estate planning services tailored to your family’s needs.
Take the first step toward peace of mind by contacting us for a consultation. We’ll help you navigate the complexities of estate planning, from selecting guardians to managing finances for your children and grandchildren.
Pet trusts were once seen as the eccentric indulgences of the wealthy, but today, they are recognized as a practical part of estate planning. In 2016, Minnesota became the last of the 50 states to legally recognize pet trusts. However, not all pet trusts perfectly reflect the owner's intentions. Let’s explore six famous pet trust cases and learn how to create a plan that truly protects your pets.
Lesson: Leaving an excessive sum to a pet can lead to legal challenges and family conflicts. It’s important to leave a reasonable amount based on the actual cost of care for your pet’s remaining years. Discuss any disinheritance plans with your attorney to make them as solid as possible.
Lesson: Using a trust helps maintain privacy regarding your estate’s details, preventing public scrutiny.
Lesson: Pet trust benefits can extend across generations, so ensure your estate plan clearly reflects your intentions for future pets.
Lesson: You can be creative in ensuring your pet receives proper care after your passing by designating trusted organizations or individuals to manage their care.
Lesson: Don’t assume someone will automatically care for your pet. Plan ahead by choosing a reliable caretaker and putting your wishes in writing.
Lesson: Ensure your financial plan aligns with your estate plan and closely monitor your advisors to protect your assets.
Protecting Your Pets with a Pet Trust
Establishing a pet trust is the most reliable way to ensure your pets are cared for after your death. If you haven’t yet made arrangements for your pets in your estate plan, now is the time. A Nevada trust attorney can help you set up a new pet trust or incorporate one into your existing plan. Contact us today to safeguard your pets' future.
Planning for your pet's future in your estate plan is essential to ensure they are cared for after you're gone. A common and effective way to achieve this is by setting up a pet trust, a legal tool that provides specific instructions and funds for your pet's care. However, many people make critical mistakes that can leave their pets vulnerable. Here are five common pitfalls to avoid when creating a trust and ensuring a comprehensive estate plan that protects your furry friend.
Estate planning isn't just about safeguarding the future of your human loved ones—it's also about ensuring that your pets are cared for if something happens to you. Many pet owners worry about what might happen to their animals if they are no longer around. This is where a pet trust can be invaluable.
A pet trust is a legal tool that can be included in your estate plan to ensure your pets are looked after according to your wishes. Without a plan, your pets could face uncertainty, and in the chaos that follows a death, they might even be overlooked or abandoned. By setting up a pet trust, you can avoid these scenarios and make sure your furry family members are well cared for.
When you decide to create a pet trust, there are three important choices you need to make:
You might assume that you’ll outlive your pets, but estate planning is about preparing for the unexpected. By including a pet trust in your estate plan, you ensure that your pets will be cared for, even if you’re not there to do it yourself. Don’t leave your pet’s future to chance—work with a Nevada trust attorney to protect what matters most to you.
