Not having any estate planning documents in place will set you and your family up for a world of hurt.

Every family believes they are above squabbling over the family home when a parent dies. But, emotions run high after a parent’s death. Sibling jealousy and guilt motivate people to do strange things. It is best to have the allocation of your assets written in stone before you die.

What if you don’t pass away, though? What if you fall into a deep coma, and your spouse and children find themselves arguing over your medical care? Deciding whether to “pull the plug” is one of the most traumatic experiences your loved one could endure. Did you know you could make that decision for them? You need an estate planning attorney, who is experienced in using estate planning documents to make the best possible plan for our clients.

Estate Planning Attorneys Las Vegas can provide the guidance and expertise needed to navigate the complexities of end-of-life decisions and asset allocation, ensuring peace of mind for you and your loved ones.

Ask Us About These Estate Planning Documents

• Last Will and Testament

To ensure that your assets, including your real estate, vehicles, stock portfolio, bank accounts, and insurance policies, are transferred according to your wishes, it is crucial to have a will that outlines your intentions. A will can be created by anyone who is sound of mind and at least eighteen (18) years old.

If you don’t have a will, the courts will use a legal formula under the laws of intestacy to determine who gets your assets. It’s important to note that if your children are younger than eighteen (18) years old, someone else may be chosen to be their guardian without your input. A wills attorney will help you to protect your minor children.

Trusts

Trusts are a good way to avoid the probate process. There are several types, so you should ask a trusts attorney about which best suits your family and lifestyle.

A trust would be helpful if you have a beneficiary in mind to give assets to but don’t want to have them transferred to the beneficiary until a certain date. Consider a situation in which your beneficiaries are minors children, and you don’t want them to get the estate all at once. As a parent, you can indicate that the assets will be used for their living expenses until they reach a specified age or even disburse funds in increments at certain milestones.

Powers of Attorney

• Medical Power of Attorney

This medical power of attorney is an instrument that empowers you to name an agent to decide on your medical care and treatment if you are unconscious or unable to communicate.

This person could be someone you trust, yet someone not as emotionally attached to you as a family member. This way, they can make objective decisions without being clouded with emotion.

• Financial Power of Attorney

You can designate someone you trust to oversee and manage your finances and property on your behalf through a financial power of attorney. These duties could involve handling insurance benefits, paying bills, depositing money in the bank, and managing your business. Your agent or attorney-in-fact is the person you designate to act on your behalf under your power of attorney.

Advance Healthcare Directive

A living will, often referred to as an advance directive, is a legal document that specifies how medical professionals should treat you if you are in a terminal condition or a state of extended or permament incapacitation and unable to express your intentions for your medical care.

A living will names an agent who has the power to speak on the testator’s behalf and ensure that their desires are carried out. If you already have a health care power of attorney as outlined above, you may not need one of these. Things could get complicated if you have named two different agents with differing opinions on your care. Speak to a medicaid planning attorney about these estate planning documents to decide which is best for you.

Estate Planning Documents

This process doesn’t have to be complicated. Contact an experienced and reliable attorney today before it’s too late.