Estate Planning For The Long Run

Estate Planning For The Long Run

Wills, Probate And Estate Administration

For many people, when they think of estate planning, they think of a will. A will is a basic document that provides instruction to your executor as to the disposition of your assets. It can do much more and even if the bulk of your assets are outside the probate process, a will can name a guardian for your minor children or detail who receives personal property of your estate. Morris Estate Planning Attorneys can help you with all of the elements of estate planning, including writing a will that carries out all of your needs.

What Is Probate?

Probate is the legal process where a Nevada court determines the validity of a will, names an executor or personal representative (as indicated in the will), and supervises the distribution of the assets by the executor. Depending on your circumstances, it can be time consuming and expensive. If you have no will, the court will apply the intestate succession law to distribute your assets.

With any estate, the use of certain tools, like trusts and proper beneficiary designations, you can avoid much of the expense of probate, because those assets pass outside the probate process. Our attorneys can explain how this works and how it can be beneficial for your estate.

If you have minor children, a will is still necessary as it allows you to name a guardian for their care. A will can also be useful to distribute personal property and can be helpful to prevent potential disputes among your heirs regarding who receives specific items that may have monetary or sentimental value.

Estate Administration

During probate, an executor or personal representative is named. This person is responsible for the “administration” of the estate. Depending on the complexity of the assets passing through probate, this job may be straightforward or challenging.

Because the executor need not be an attorney and is often a spouse or adult child, seeking the advice of our lawyers can help ensure that you execute the responsibilities of the position appropriately and prevent mistakes that could lead to disputes or litigation.

Contact Our Firm Today

Contact our office in Henderson, today for assistance with any aspect of a will, the probate process or estate administration at 702-471-0990 or use our online form.