Owning rental property in Nevada can provide long-term financial security, but it also brings legal risks. Without a solid estate plan, your heirs may face confusion or unexpected costs when inheriting these properties. Smart estate planning can protect rental...
Protecting Your Wealth One Piece At A Time
Estate Planning
How can pet trusts safeguard your animals?
Your pets rely on you every day. But what happens if you're no longer able to care for them? A pet trust allows you to plan for their future and ensure they remain safe, loved, and well-cared for—even when you're not around. What a pet trust does A pet trust enables...
What options are available for estate planning without heirs?
Estate planning is a vital process, irrespective of an individual's familial circumstances. While many people believe estate planning is only pertinent to those with children or a spouse, it assumes even greater importance when someone lacks immediate family. This is...
What is the role of a healthcare proxy?
A healthcare proxy ensures someone follows your medical wishes if you can’t make decisions yourself. This legal document lets you appoint a person to act on your behalf in medical situations when you become incapacitated. Without one, your family may struggle with...
How a revocable living trust helps you protect your assets
There are several types of trusts you can establish as part of your estate plan, each with different wealth management benefits. A revocable living trust offers a flexible and effective way to protect assets. This legal tool allows you to manage your property while...
What is a spendthrift trust and who needs one?
A spendthrift trust protects assets from irresponsible spending and creditors. If you worry about a beneficiary mismanaging their inheritance, this type of trust provides financial security while controlling how and when the funds get used. It ensures that assets...
Should you gift assets now or pass them through an estate later?
When planning your estate, deciding whether to gift assets now or pass them on later can be a difficult choice. This decision affects your financial goals, your family’s future, and your tax obligations. Nevada’s state laws and federal tax rules play a key role in...
What common mistakes are made about durable powers of attorney?
A durable power of attorney (DPOA) serves as a critical estate planning document, yet many misunderstand its purpose and function. Clearing up misconceptions helps individuals make informed decisions about their estate plans. A durable power of attorney does not take...
4 key factors for choosing your Las Vegas executor
In Las Vegas, picking the right executor for your estate matters. This person will handle your affairs after you're gone, so it's crucial to choose wisely. What's an executor? Nevada law calls an executor a "personal representative." This person manages your...
What are the differences between revocable and irrevocable trusts?
Trusts are powerful tools in estate planning. They allow individuals to manage and distribute their assets while reducing taxes and protecting beneficiaries. Two common types of trusts are revocable and irrevocable trusts. While they share similar purposes, they...
David A. Straus is the author or co-author of many publications.
Complimentary Book
Following retention
after a complimentary in
office consultation
‘Planning In Turbulent Times’