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For more than 30 years, those with significant IRAs or other qualified retirement plans used trusts to create what is commonly known as a “Stretch IRA”. Doing so allowed the IRA owner to force the stretch out of the IRA…
So you are the trustee of a special needs trust, also referred to as a supplemental needs trust (SNT), and you are wondering what in the world you can pay for on behalf of the special needs beneficiary? Or the…
Is a No-Contest Clause Enforced in Nevada? When drafting a will or trust, I’m often asked about no-contest provisions. Clients want to make sure that their will and trust have such clauses. The purpose is obviously to discourage a future…
When a judgment is obtained against someone who owns an interest in a limited liability company (LLC), often the only recourse is to have the court issue a charging order. In Nevada, a charging order is the exclusive remedy against…
The question is often asked, “Do I need a living trust?” Some estate planning attorneys tell everyone that they need a trust. But, whether a revocable living trust is needed or not depends upon a number of factors, such as…
While a revocable living trust is a common estate planning tool for avoiding probate, using a trust is not the only way to avoid probate. To be clear, we prepare many, many living trusts. Family trusts are the foundation of perhaps…
Transferring Mortgaged Real Estate to Your Living Trust If you own a home and are setting up a revocable living trust, you will want to transfer your home to the newly created trust. If there is a mortgage on the…
The Family Trust: Top 3 Reasons Probate Wasn’t Avoided While it is true that a properly funded and properly drafted revocable living trust will avoid the probate process, there are several reasons why probate isn’t always avoided. Here are some…
It is often reported that the majority of Americans do not have a Last Will and Testament, and I expect those in Nevada are no better. That leaves many with the question: What if I die without a Will? And…
Many people have questions about testamentary trusts and are not sure what they are or how they are different from the more common living trust. This post will explain what a testamentary trust is, how it differs from the living…
