Estate Planning News

The First Step In Estate Planning

Inventory everything you own and assign a value to each asset. Here's a list to get you started. You may need to delete some categories or add others.

• Residence
• Other real estate
• Savings (bank accounts, CDs, money markets)
• Investments (stocks, bonds, mutual funds)
• 401(k), IRA, pension and other retirement accounts
• Life insurance policies and annuities
• Ownership interest in a business
• Motor vehicles (cars, boats, planes)
• Jewelry
• Collectibles
• Other personal property

Once you've estimated the value of your estate, you're ready to do some planning. Keep in mind that estate planning is not a one-time job. There are a number of changes that may call for a review of your plan. Take a fresh look at your estate plan if:

• The value of your assets changes significantly.
• You marry, divorce or remarry.
• You have a child.
• You move to a different state.
• The executor of your will or the administrator of your trust dies or becomes incapacitated, or your relationship with that person changes significantly.
• One of your heirs dies or has a permanent change in health.
• The laws affecting your estate change.

Contact our Nevada estate planning attorney now.

	Did You Know?
	The costs and expenses of a conservatorship are paid by your estate A CONSERVATORSHIP is if you suffer from an incurable disease or are involved in a debilitating accident and are unable to manage your own affairs, state law might require someone to go to court to have a conservator appointed by the court. The conservator is given the authority to make financial decisions and handle your financial affairs, under court supervision, when you lack the capacity to manage them on your own.