There are many complex legal requirements associated with being a trustee or administering an estate. We help our clients create an estate plan where they can handle the affairs of an estate without major challenges.

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How To Avoid Probate In Las Vegas

Probate is the court-supervised administration of your estate or will after you die. The probate process involves many steps that take time and involves probate fees as well. All of this can cause a big headache for your grieving family, so it’s no wonder many Las Vegas residents want to avoid probate. 

Luckily, if you take the right steps during estate planning, you can plan for the distribution of your estate and still avoid probate in Las Vegas. Here’s how. 

Work With An Experienced Estate Planning Attorney

The first step in avoiding probate in Las Vegas is to work with a knowledgeable estate planning attorney. They can examine your unique situation and discuss your options for avoiding probate. Together, you can decide what makes the most sense for you and your family. Your attorney can also assist your loved ones if they have questions or concerns about the distribution of your estate after you pass away. 

Avoid Probate In Las Vegas With A Living Trust

If you create a last will and testament to distribute your assets after death, it will still be subject to probate and probate fees. Instead, you can establish a living trust. A living trust puts your estate “in trust” and names a trustee to manage it. Because your assets have already been “distributed” into the trust, probate is unnecessary. Upon your death, the trustee distributes your assets to your designated beneficiaries without going through the courts.

Name Beneficiaries On Your Financial Accounts

If you’re worried about family members not having access to money upon your death, be sure to name them as beneficiaries on your various financial accounts. These “payable on death” accounts include 

  • Bank accounts
  • Life insurance policies
  • 401K plans
  • IRA accounts
  • Pension plans
  • Stocks and bonds

Take the time to request and fill out your financial institutions’ payable-on-death forms. The people you name on the forms will receive those assets immediately after your passing without going through probate. You’ll save them a lot of frustration and ensure they have the necessary funds.  

Designate Joint Ownerships

Another option for avoiding probate in Las Vegas is to hold property jointly. Joint property is legally owned by more than one person. When you die, that property automatically goes to the other owner(s) without going through probate. This most often applies to real estate. If you want a loved one to inherit your house or vacation property, you might consider designating them as joint owners now so that the property does not go through probate later. 

Talk To The Attorneys At Williams Starbuck To Learn More About Avoiding Probate In Las Vegas

You want the best for your family now and after you’re gone. The experienced attorneys at Williams Starbuck can help. We’ll discuss your options for avoiding probate and draw up the legal documents when you have a plan. Get started today by calling us at 1-720-660-9847 or send us a message to schedule a free consultation.

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Why You Need A Power Of Attorney In Las Vegas

A power of attorney protects you and your estate if you cannot make important decisions. But first, you should understand what a power of attorney is and how to get a power of attorney in Las Vegas. We’ll explain it all below, and then you can bring further questions to the estate planning attorneys at Williams Starbuck.

What Is A Power Of Attorney?

Your power of attorney (POA) is a legal document that appoints someone to oversee your affairs if you become incapacitated or unreachable. This agent is your attorney-in-fact and can make financial or medical decisions on your behalf. Your POA spells out the extent of their authority and when it goes into effect, such as immediately upon completion or only if you become incapacitated by illness or age. Your POA expires when you die.

Why You Need A Power Of Attorney In Las Vegas

It can be difficult to imagine a time when you would need a power of attorney in Las Vegas while you’re healthy and of sound mind. But estate planning is essential in all seasons of life. Anyone 18 and older can benefit from creating a POA in several ways.

  • Your family members won’t have to guess what you want when you can’t make vital decisions yourself. With a POA in place, your attorney-in-fact is responsible for making decisions for you within the document’s terms.
  • It can protect your family financially. Your attorney-in-fact can also distribute funds in your name to care for family members, so you and they don’t have to worry about their upkeep.
  • It can protect your attorney-in-fact too. Your family may not always agree with your POA or attorney-in-fact. But as long as they act in accordance with your POA and your best interests, your agent won’t suffer from claims of financial abuse.
  • You’ll have extra protection for your assets. A second person who can handle your financial affairs can be helpful in an emergency. They can take action to protect your business operations, real estate, investments, or bank accounts for you when you are unable to.
  • You’ll enjoy more peace of mind when you travel. If you travel overseas a lot, you might find it beneficial to establish a power of attorney so your agent can handle your financial affairs in your absence.

How To Get A Power Of Attorney In Las Vegas

When you want to create a power of attorney in Las Vegas, the process will go smoother if you hire experienced estate planning attorneys like Williams Starbuck. They can walk you through all the steps of how to get a power of attorney in Las Vegas and help you write the terms of your POA to fit your needs.

Once you find an attorney to work with, you’ll need to

  • Choose one or more trusted people to act as your attorney-in-fact.
  • Work with your attorney to write the terms of your POA.
  • Finalize and sign the POA document in the presence of a notary.
  • Print and distribute copies to your attorney-in-fact and other relevant people.
  • Store your own copies in a safe place.
  • Give copies to financial institutions and government agencies where you have accounts or property listed in your POA.

Establish Your POA With The Experts At Williams Starbuck

When you’re ready to create a power of attorney, the estate planning attorneys at Williams Starbuck are here to help. Get started today by contacting us at 1-720-660-9847 to schedule a free consultation.

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Do You Need A Living Will In Las Vegas?

When you think about a will, you probably think about the document that gives instructions for distributing your estate after your death. So what, then, is a living will? And do you need a living will in Las Vegas? Let’s explore what a living will is, why you should have one, and how an estate planning attorney can help you write one.

What Is A Living Will?

Unlike a last will and testament, a living will is used while you’re still alive. It is what the law calls an “advance directive” and details your desires for medical care if you ever become incapacitated, incapable of communication, or mentally incompetent.

Unfortunately, there may come a time when you cannot make or express your desires for medical treatment or end-of-life care. While your loved ones and doctors will try to give you the best care possible, they cannot read your mind. A living will let you make medical decisions ahead of time for family and doctors to follow.

So what might a living will include? These are very personal decisions, but a living may include

Your goals for quality of life when incapacitated

  • Instructions for personal hygiene and modesty
  • Directions for when to use lifesaving treatments and when to remove life support
  • Instructions for withholding nutrition and hydration at the end of life
  • Preferences for pain management
  • Religious considerations

When working on your living will in Las Vegas, you may also wish to draw up what’s called a durable power of attorney for health care. This document names a person you want to make medical decisions for you if you become unable.

Do You Need A Living Will?

Nevada does not require you to have a living will, but it is recommended that everyone 18 and older should have one. Even if you enjoy good health right now, anyone can experience an unexpected accident or terminal illness. You should especially consider getting a living will in Las Vegas if you

  • Already have a terminal illness
  • Plan to have surgery soon
  • Are of advanced age

Having a living will helps your family and doctors know how to care for you during a stressful time. It lifts some of the burdens of caring for you and prevents arguments and uncertainties. You’ll also have greater peace of mind knowing that medical care and end-of-life care decisions that are important to you will be honored.

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How Can An Attorney Help You Write A Living Will?

Like with other wills and estate planning documents, your attorney can also help you write your living will. You could do it yourself using an online template, but an attorney provides an experienced point of view. They can help you personalize your living will better than a generic template allow and ensure your living will meet Nevada state requirements. They can offer advice about what kinds of things to include. And once you’re done, your attorney’s office can help you get the final document witnessed and notarized.

A living will may be difficult to think about, but the guidance of an expert attorney streamlines the process. You’ll feel more confident knowing everything was done right and that your family will know your wishes for medical and end-of-life care if needed.

Need Help With A Living Will In Las Vegas? Williams Starbuck Can Help

When you need a living will or other estate planning document, the experienced attorneys at Williams Starbuck are happy to help. We make the process simple and discuss everything thoroughly to meet your needs. To learn more about our services, call 1-720-660-9847 or contact us and schedule a free consultation today.

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Estate Planning for Military Families

Although Memorial Day just passed, it is important to honor those that have served our country. This time is also an opportunity for members of the military and their loved ones to consider setting up an – or revising an existing – estate plan. Military families need to consider special estate-planning issues that others do not. This is particularly true when one or more family members are deployed overseas. Beyond this, members of the military have access to special benefits and resources. This can become complicated and, for this reason, it’s important to seek specialized help if you are a military family. Whether you are just starting in the military or a seasoned veteran, below are some common factors to consider for your estate planning needs.

Important Factors to Consider 

Everyone’s estate plan should be customized to the person’s particular circumstances. Some factors that should be considered include whether you:
  • Own real property and, if so, if the real estate is located in different states;
  • Are married;
  • Have minor children, or children with special needs;
  • Have money set aside in 401(k), IRAs, or thrift savings plans;
  • Plan to give to charity; and
  • Are moving multiple times across states or to different countries.

Estate Planning Necessities 

There are many benefits offered to military families that can help with estate planning. These include:

Life Insurance

An important part of an estate plan and intended for those who are financially dependent upon you, life insurance is especially important if a member of the military is heading out to a combat zone. Active-duty members have access to low-cost life insurance for themselves and loved ones from Service Members’ Life Insurance Group. More information can be found on the Department of Veterans Affairs website. When examining your life insurance, work with us to make sure that the beneficiary designation works the way you expect it to.

Wills and Trusts

A last will and testament to whom and how you want your property distributed, names who will administer your estate and specifies who will care for a minor or special needs child. A trust, on the other hand, is a separate legal entity that can hold property and assets for the benefit of one or more people or entities. For most families, a trust-centered estate plan is a better fit, but a will can work for some families.

Other Benefits for Survivors

Survivor benefit plans (SBP) are pension-type plans in the form of an annuity that will pay your surviving spouse and children a monthly benefit. Likewise, dependency and indemnity compensation (D&IC) provides a monthly benefit to eligible survivors of service members or veterans (1) who die while on active duty, (2) whose death is due to a service-related disease or injury or (3) who are receiving or entitled to receive VA compensation for service-related disability and are totally disabled. When you are examining any financial services or insurance product, it’s a good idea to work with us to make sure any beneficiary designations work the way you expect and provide the maximum benefit to your family.

You Need Specialized Help 

Members of the military often experience frequent moves, have access to lots of government benefits after service, and can be subject to some unusual tax rules. For these reasons, estate planning for military families is more complicated than most. You can expect an estate planning professional to assist you with setting up the following:
  • Powers of attorney for limited and general financial matters, as well as health care decisions (very helpful when a spouse is deployed);
  • Funeral and burial arrangements;
  • Wills and living wills;
  • Organ donation;
  • Family care plans;
  • Life insurance;
  • Trusts;
  • Estate taxes;
  • Survivor benefits;
  • Estate administration and/or probate.
An estate plan has multiple objectives: to provide for your family’s financial security, ensure your property is preserved and passed on to your beneficiaries, and determine who will manage your assets upon your death, among others. As a former United States Marine, I am here to help guide you through the best options available to you and your family. Contact us to start creating an estate plan today!
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10 Estate Planning Tips

Life has too many “what-ifs” to be able to plan for every conceivable situation you might encounter. In spite of this, it’s still possible to create an effective estate plan that will not only anticipate your death and/or disability but do so in a way that will enable those you love to focus on your legacy, rather than your estate plan. Check out these 10 estate planning tips!

10 Estate Planning Tips For Creating an Effective Estate Plan

  • Get A Financial Power Of Attorney
    • Give the power of attorney over your financial matters to someone you trust. This person should also have the education or life experience to make sound financial decisions on your behalf, in the event you become incapacitated.
  • Find A Healthcare Power Of Attorney
    • For most of your life, you are far more likely to be temporarily incapacitated or disabled than you are to die. For this reason, a comprehensive estate plan will give the power of attorney to someone for health care decisions. It is a very good idea to give someone the power to act on your behalf in the event you are unable to make decisions for yourself.
  •  Do A Regular Inventory and Correctly Title Your Assets
    • You have spent your whole life, up to this point, working to acquire assets that will support you, and possibly your children after you die. Regularly inventory and carefully title your various assets. Designate beneficiaries for your annuities, insurance policies, and retirement plans. You should bear in mind that anyone whose name appears on the title of an account, policy, or retirement plan will have the authority to access and use the funds on your behalf.
  • Have a Will In Place
    • Have a legal will prepared that properly disposes of your assets. A will can also nominate legal guardians for your children to provide for their care, upbringing, and education in addition to managing their inheritance.
  • Take Advantage of Protections From Creditors
    • Take advantage of protections that are available, as a matter of right, by law to protect certain basic property rights. For example, some assets (e.g., 401(k)s, most IRAs, and your primary residence) are protected by state law; therefore, they can’t be taken by a general creditor to satisfy your obligations.

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Estate Planning Tips Continued…

  • Use Revocable Living Trusts
    • Use trusts to hold assets and settle your estate. A trust is an effective way to avoid the probate process that can be lengthy and needlessly expensive. Most people should eventually use a revocable living trust as the centerpiece of their estate plan.
  • Understand Irrevocable Trusts
    • Instead of leaving inheritances directly for your children, use an irrevocable trust. This can help you avoid claims against the inheritance from debts, divorce, disability, and destructive spending habits. In addition, there are dozens of purposes for irrevocable trusts created for favorable income, estate, and gift tax results and, when used correctly, protection of assets.
  • Seek The Help of Financial Advisors
    • Seek professional advice from attorneys, bankers, financial planners, and insurance brokers as you see fit. It’s never too early to start planning for your financial future. In order to be a good steward of your assets, find a good financial advisor with the help of family and friends, and trusted professionals.
  • Periodically Review and Revise
    • Effective estate planning is a lifelong activity. Tragedy could strike at any time. As we have seen, laws, your family circumstances, and the makeup of your own wealth will change over time. It is critical to review and update your estate plan on a regular basis to ensure that the best possible protections are being utilized.
  • Take Time To Ponder
    • Family dynamics change all of the time and in lots of different ways. Think of charitable causes you are committed to or care about. Charitable giving is one tool an effective estate planner has in the tool belt to reduce or eliminate taxes that the estate, or loved ones, will have to pay when you die. Financial circumstances can change rapidly. Your legacy will reflect the time and thought you have invested in creating and maintaining your estate plan.

Use These 10 Estate Planning Tips To Get Started

An estate plan that is out of date, can be just as harmful as not having one at all. It is essential to maintain your estate plan so your legacy, and not estate planning deficiencies are what will be remembered. If you regularly follow the above ten timeless tips above, your estate plan will remain healthy and effective to accomplish what it was created for.

Contact the attorneys at Williams Starbuck to help you with your Estate Planning needs today!

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Do I Need A Lawyer To Make Out A Will In Las Vegas?

The best way to ensure your loved ones and property will be taken care of after you pass away is to create a last will and testament. However, you need to make your will correctly so that Nevada courts honor your wishes. While many people might try to make out a will in Las Vegas with the help of computer software, estate planning laws can complicate matters. To ensure your will protects all of your interests, work with a qualified attorney.

Can’t I Write My Will Myself? 

Technically, Nevada law does not require you to use a lawyer’s services when creating a will. You can find computer software and online services that give you a template and guide you through the steps of writing a will yourself. As long as you sign your DIY will in the presence of two non-family witnesses, it is legal. 

This method appeals to many people who want something quick and easy. If their will seems fairly straightforward, they may feel that they don’t need to spend time and money on professional advice. However, there are a lot of things in an estate that people take for granted. For instance, who inherits your cryptocurrency, and what will happen to your beloved pet? If you don’t use professional help, you could make a costly mistake that leaves your family or property unprotected. 

How Can A Lawyer Help Me Make Out A Will In Las Vegas?

There is no substitute for sound legal advice when you do something as important as making out a will in Las Vegas. Your lawyer has done this many times before and understands all the ins and outs of estate planning. Their experience can benefit you in many different ways:

  • Your lawyer can tell you everything your will should cover, from assigning inheritances to designating guardianship of minor children. They won’t let you overlook any critical details. 
  • A lawyer knows the latest laws. Computer software and internet templates may not be up-to-date, so a DIY might make things harder for your beneficiaries. Your lawyer will ensure that your will follows the law now and in the future. 
  • Estate planning covers several different types of law. An estate planning and probate lawyer can advise you on how to fulfill your wishes within these laws to ensure you and your loved ones benefit. They can answer life insurance questions, address inheritance issues, help reduce your beneficiaries’ tax burdens, and much more.
  • If you have complex family dynamics, a lawyer can help write a water-tight will to name your beneficiaries. Otherwise, the state may choose how to distribute your assets–and they may not go where you want. You’ll also want a lawyer involved if you believe your will might be contested in court later.  
  • A will does more than make plans for after you pass. You can also use it to grant power of attorney to someone you trust in case you become too incapacitated to make vital decisions yourself. An attorney can advise you on how to legally name this person and protect yourself at a vulnerable time. 

Enjoy Greater Peace Of Mind When You Write Your Will With The Attorneys At Williams Starbuck

Work with the attorneys at Williams Starbuck when you’re ready to make out your will in Las Vegas. We work closely with you to protect you, your assets, and your loved ones. To learn more, call us at 1-720-660-9847 or send us a message for a free consultation.

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What Happens To Your Las Vegas Business When You Die?

You put a lot of work into building your business, but what will happen to it after you die? That all depends on how you set up your estate. Good estate planning will preserve your assets and Las Vegas business when you die and transfer everything to your chosen beneficiaries. Here are some options for protecting your business and the consequences if you don’t make the proper arrangements.

How Can You Protect Your Las Vegas Business And Beneficiaries?

The best way to protect your business and beneficiaries after your death is to work with an estate attorney to include plans for your business in your will. But what kind of arrangements should you make? Your attorney can help you decide on a strategy that fits your exact circumstances and desires. But here are a few routes Las Vegas business owners can consider:

  • Create a living trust that transfers ownership of your business to a trusted successor. This option keeps your business out of probate and minimizes your estate’s tax burden. 
  • Form a partnership with the person you want to take over your business. Make your desired successor a partner and make a buy-sell agreement that lists events (such as your death) that would trigger a sale of your shares to your partner.  
  • If you have a small business, you might be able to pass on your business to a trusted successor and avoid a tax penalty by simply gifting it to them. However, gifting must happen when you are still alive and ready to hand the business over. 

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What Happens To Your Las Vegas Business When You Die Without A Will?

So what happens to your Las Vegas business if you die without a will? That depends on your business structure. Without specifying what happens to your business after death may open your family to civil litigation, but in general here is what could happen:

  • If you own a sole proprietorship, your business will end with your passing, and all assets will go towards satisfying debts. Then your next of kin receive leftover assets.
  • For an LLC, your operating agreement should include what happens to the business after your passing, such as who will take over for you. If there is no will, your business shares usually pass to your next of kin.  
  • Ideally, in partnerships, you already have a signed agreement for what happens to the business if a partner dies. But if a partner passes without such an agreement, intestacy law gives that partner’s business shares to their next of kin.
  • Corporations usually have several shareholders to keep a business running if an individual passes away. However, if you are the only shareholder and die without a will, your estate becomes the “owner,” and stocks will be distributed according to intestacy laws. 

In the absence of a will, your loved ones will have to navigate the often confusing probate process. Part of that means settling any business debts. If the debts exceed your assets, this can create a heavy burden for grieving loved ones. Then how your family uses your assets to pay off debts can also cause contention with your business partners and destroy what’s left of the business. Speaking to an estate planning attorney as soon as your business becomes profitable can prevent these problems.

Talk To Williams Starbuck About Las Vegas Business Estate Planning

If you’re a Las Vegas business owner who hasn’t started estate planning, take your first steps today by calling the estate attorneys at Williams Starbuck. Call us at 1-720-660-9847 or send us a message for a free consultation.

What Should Be On Your Las Vegas Estate Planning Checklist?

Many Las Vegas residents feel overwhelmed by the process of estate planning because it encompasses so many things. Breaking everything down into individual steps can make the task less daunting. Use this Las Vegas estate planning checklist to organize your estate planning and make it much more manageable.

1.) Find A Las Vegas Estate Planning Attorney

If there’s one person who doesn’t feel overwhelmed by issues like wills and probate, it’s an experienced attorney. Choose an attorney to help you tailor your Las Vegas estate planning checklist to your specific circumstances and answer all of your questions. 

2.) Identify Physical Assets

Physical assets include tangible valuables that you want to bequeath to others, like motor vehicles, real estate, or jewelry. For estate planning, you should 

  • Make an inventory of your assets and their values.
  • Note to whom you want to bequeath each item.
  • Put all titles and deeds in a safety depository box or home safe.
  • List whom you want sentimental or less valuable items to go to.

3.) Identify Non-Physical Assets

Your non-physical assets are financial accounts and policies like bank accounts, investment accounts, retirement plans, and life insurance policies. Take these steps to ensure your money goes to the right beneficiaries:

  • List your non-physical assets, including account numbers and financial institutions or insurance companies. 
  • Review retirement accounts and insurance policies and update the beneficiaries if needed.
  • Put pertinent documents for your accounts and policies in a safe deposit box or home safe.
  • List your beneficiaries for each account and policy, including any organizations or charities to which you would like to donate.
  • Consider setting up a transfer on death designation for qualifying financial accounts. 
  • Consider consolidating retirement or investment accounts to simplify your finances. 

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4.) Identify Your Debts

Any debt you leave behind will come out of your estate before your heirs inherit anything, so identifying and settling them now will make the probate process easier later. 

  • List your debts, such as credit cards, mortgages, home equity lines of credit, and other loans. Include account numbers and institution or company names. 
  • Invest in disability and life insurance if you don’t have them already. 
  • Make a plan to pay off debts and preserve more of your estate. 

5.) Draft A Last Will And Testament

A will records your wishes for the distribution of your assets and care of any dependents. Draft yours with the aid of an attorney to ensure it will hold up in probate court. 

  • Make an appointment to draft your will with your attorney. Your Las Vegas estate planning checklist will help you prepare. 
  • Select a trustworthy estate administrator.
  • Appoint a guardian for minor children, if applicable. 
  • Ask your attorney if a living trust is right for your estate.
  • Sign your completed will in the presence of two witnesses. They must sign too. 
  • Have your will notarized. 
  • Place your will document in a safe place and give a copy to your estate executor. 

6.) Consider A Power Of Attorney 

A power of attorney authorizes a trusted agent to act on your behalf if you become incapacitated. Your Las Vegas estate planning attorney can help you navigate setting up different kinds of power of attorney. 

  • Set up your financial power of attorney.
  • Set up a health care power of attorney. 
  • Create a living will for your end-of-life care plan.

Complete Your Las Vegas Estate Planning Checklist With The Attorneys Of Williams Starbuck

When you begin your estate planning, call Williams Starbuck Attorneys at Law first. We’ll guide you through every step and give you legal strategies for protecting your property and loved ones. Call us at 1-720-660-9847 or send us a message for a free consultation. 

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Military Will and Estate Planning in Las Vegas

What Is Military Will and Estate Planning

In many ways, creating a customized estate plan for a single, or married member of the active duty or reserve branches of the United States military, can be similar to creating a will, trust, or estate plan for wealthy and non-military individuals or families. However, when it comes to military personnel, there are considerations that are unique to members of the military that must be accounted for and planned for.

When developing a military estate plan keep in mind and take an inventory of everything that is personally owned.  This can include property, a car, and even a savings account.  Once the assets have been identified, we can then help you answer questions such as:

  • What happens to my property?
  • Who will oversee my finances?
  • How will my family be affected financially?

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Why Williams Starbuck Can Help You With Military Will and Estate Planning in Las Vegas

Because of my service in the United States Marine Corps Reserves, I am both familiar with the considerations that are distinctive to military members, and able to relate to you and your situation while we work together to ensure your estate plan is properly set up, and all aspects and scenarios are contemplated and planned for. 

In cases where you own a home, have investments, or your estate consists of other classes of assets, the base legal office may not be able to adequately assist you with the proper tools and documents you need to ensure that your estate avoids probate, and seamlessly transitions to your loved ones.

Contact Williams Starbuck For More Information About Military Will and Estate Planning

If you are a member of any branch of the United States Military, on active duty, or on reserve and you have questions regarding asset protection or other estate planning matters and how they might affect you, call us at 1-720-660-9847 or send us a message for a free consultation.

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How A Living Trust in Las Vegas Helps Your Family

There are several parts to creating an estate plan in Las Vegas, one of them being a living trust. Common factors that prompt someone to create a trust include privacy, tax benefits, avoiding probate, and caring for family members with special needs. Estate planning also lets you dictate how your assets will pass on to future generations after your death. See below for some key suggestions on how a living trust can help your family.

Avoiding Probate

One of the primary reasons for creating an estate plan is to avoid probate. Unlike a will, a fully funded living trust will avoid probate, typically a lengthy and costly court-supervised process. Probate includes locating and determining the value of the deceased’s assets, paying off any outstanding bills and taxes, and then distributing the remaining value of the estate to the deceased’s rightful beneficiaries or heirs.

Avoiding probate is often a top reason for estate planning, and there is no surprise as to why. First, probate can be a costly way to transfer your assets upon death. Second, it is very time-consuming for your family. It can take from six to nine months (or even longer) to complete the probate process. Complications, such as a contested will or an inability to find clear records of all of the deceased’s assets and debts, can extend this timeline. Finally, probate proceedings are a matter of public record so when your estate goes through this process, there is no privacy.

Reducing Taxes

While a living trust can help you avoid probate, it can also provide you with tax savings, especially if your estate is subject to death taxes (also known as estate and gift taxes). Of course, there are many types of trusts. One way to think about the variety is to consider a toolbox. For example, there are numerous kinds of screwdrivers, hammers, power tools, and so on. Each tool has an intended use. Trusts are no different. When you work with us, we’ll make sure to align the type of trust with the tax-saving needs and other goals of your family.

Seek Professional Help

It is important to understand that a trust only controls assets that are in the trust. In other words, you must place these assets in the trust – commonly referred to as “funding” the trust. Moreover, because our lives are always changing (marriage, childbirth, home purchase, etc.) and so are tax laws, it is essential to continually update and monitor the funding of your trust over your lifetime.

For these reasons, you will want to work closely with your estate planning attorney to make sure your assets are properly aligned with your trust. This will not only help you get organized, but it will also make things easier for your heirs when you pass away. You don’t have to go it alone. We are here to help you and your family. Call us at 1-720-660-9847 today to learn more about how a living trust can help your family.