Living Trusts

Like a will, a living trust lays out your wishes for what you would like to happen to your assets, your dependents, and your heirs after you die. A living trust, however, skips the expensive and time-consuming process of probate and allows your trustee to execute your instructions as your living trust specifies at your death or if you become incapacitated. If you are considering whether to draw up a living trust or not, speak with our trust attorney for legal help.

You need trustworthy advice when considering your assets and family, and for over 50 years, Bowler Twitchell, LLP has been providing counsel for individuals who need assistance planning for the future. We are a highly regarded team of legal professionals who have been recognized by Super Lawyers® and have earned an A+ grade from the Better Business Bureau. You can trust our firm to have your best interests in mind at all times when drafting an estate plan that works for you.

Protect your loved one’s benefits and secure their future—call (702) 703-6998 or complete our online form now to schedule a confidential consultation with an experienced revocable living trust lawyer in Las Vegas.

Wills vs. Living Trusts

To begin with, wills are signed and witnessed documents indicating how your assets will be distributed at your death. Wills are revocable and can be amended during your life, and also let you choose a guardian for any minor children.

A living trust can provide for a successor if you die or become incapacitated. The trustee is empowered to act and manage your property.

When you meet with a living trust lawyer in Las Vegas from our firm, we will usually look at how real estate, bank accounts, and other property would actually be transferred under each option. In many Nevada families, it is important to think about blended households, second marriages, or loved ones with special needs who may require ongoing management of funds, not just a one-time inheritance. Understanding how a will and a trust operate under Nevada law, and how the Clark County probate court would oversee each, can make it easier to decide which structure offers the control and privacy you want for your situation.

Proper living trusts allow you to:

• Plan for your potential incapacitation
• Keep your financial business from public view
• Avoid probate court when you die
• Control what happens to your property after you die
• Manage the affairs of any size estate

It should be noted, on the other hand, that trusts are generally more expensive to establish than wills since they must be managed by another party once created. A living trust must also be properly funded to be effective; otherwise, it is of no use.

How Revocable Living Trusts Work in Las Vegas

A revocable living trust is a document you create during your lifetime that holds title to your property while still allowing you to stay in control. In most cases, you act as your own trustee at first, then name a trusted family member, friend, or professional to step in as successor trustee when you can no longer manage things yourself. In the Las Vegas area, many people use these trusts to coordinate homes, rental properties, and bank accounts so their families are not forced to go through a full probate case in the Clark County District Court. Because the trust is revocable, you can change or revoke it as your life, family, or financial situation evolves.

Working with a revocable living trust lawyer in Las Vegas can also help you think through practical administration issues that are easy to overlook. For example, you will need to decide how your trustee should handle debts, ongoing business interests, and personal items with sentimental value. You can also provide guidance on whether beneficiaries should receive property outright or in stages, which can be important if someone is young, going through a divorce, or facing creditor problems. Careful planning on the front end often makes it easier for your loved ones to carry out your wishes with less conflict and confusion.

A Revocable Living Trust Attorney in Las Vegas Can Help You Choose

There are several factors to consider when deciding whether to pursue a will or a living trust. If you have minor children, for example, a trust can specify when they will be entitled to the trust’s assets. A trust can also be beneficial if the value of your estate is more than the current estate tax threshold.

Our Las Vegas attorney can help you decide which is the best choice for you, given your unique circumstances. We have all the experience needed to guide you through the process and achieve your goals for your assets and future.

When you sit down with a revocable living trust attorney in Las Vegas, you can review how flexible a revocable trust can be during your lifetime. Together, you can look at how to update trustees, add new beneficiaries, or adjust the way specific properties are distributed if your circumstances change. This kind of planning lets you coordinate your trust with beneficiary designations, retirement accounts, and life insurance so that everything works together under Nevada law rather than in separate, conflicting directions.

Contact Us Today for Guidance and get the advice you need to make the best decision for you!