Don't Gamble With Your Family's Future

January 2, 2013

It is no secret that the gaming industry is very prominent here in the state of Nevada. Many families have been able to build wealth working within this industry, and it is a very important part of our state's economy.
However, far too many residents of our state are gambling with the future of their families.
Every day that you go without an estate plan, or with an estate plan that is not current, is a day during which you are rolling the dice.
Statistics tell us that almost no one under the age of 50 has all the appropriate estate planning documents in place. Even though the number having an estate plan in place is increased for those over age 50, the majority are still procrastinating. In addition, countless people who do have some type of estate plan in place have inadequate plans due to improper advice, changes in circumstances or changes in the law.
If you die without a last will or any other estate planning documents having been executed, the court will be in charge of deciding how your assets are distributed. This probate process could take a very long time, because the court will have to interpret the laws of "intestacy." These rules of succession may not be in line with how you would have wanted your assets divided among your family members.
Your family could also lose a great deal of money to the estate tax if you were to pass away without having taken any steps to gain tax efficiency.
Don't take risks; take action. Pick up the phone right now to set up a consultation with a licensed and experienced Washoe County estate planning attorney.

Wealth Counsel
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