Law Offices of David A. Straus LLC Blog

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...

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...

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...

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...

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...

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...

Involving heirs in estate planning discussions can be a valuable way to ensure that everyone understands and respects the decisions being made.  Engaging mature children in these conversations can help everyone understand what you want and what to expect from the...

Have you ever wondered what happens to your hard-earned assets after you are gone? While it might not be the most pleasant topic, understanding estate taxes could be crucial when creating an estate plan. What happens after you pass away may surprise you, considering...

A pour-over will is a legal document used in estate planning to transfer any remaining assets into a trust after someone passes away. It works alongside a living trust to ensure that no asset is left outside the intended estate plan. Pour-over wills offer a safety net...

Proper estate planning plays a vital role in protecting assets and ensuring that loved ones receive the intended care after someone passes away. Many people find it tempting to create their estate plan without professional help, but this decision can lead to serious...