A Living Will is different from a Living Trust and is different from a Will. A Living Will is a written statement instructing your family and doctor about what, if any, life-prolonging medical procedures you desire to be performed if your condition is terminal and there is no chance of recovery. In Nevada, it is… Continue reading What Is A Living Will?
In Nevada, a “Durable Power of Attorney for Health Care” is a signed, dated, and witnessed written instruction naming another person as your “agent” or “health care proxy” to make medical decisions for you if you should become unable to make them for yourself. The instrument may include instructions regarding any treatment you would desire… Continue reading What Is A Durable Power Of Attorney?
A Homestead Declaration is a simple document that can protect your home’s equity from attack by creditors. It prevents a forced sale of your home to satisfy your debts to most creditors (unpaid medical bills, bankruptcy, charge card debts, business/personal loans, accidents). Nevada Revised Statutes, Chapter 115 governs the declaration of a homestead. It declares… Continue reading Do I Need to Hurry and File My Nevada Homestead Exemption?
What is Disability Insurance? Disability insurance attempts to insure you against any injury, sickness or illness which would prevent you from earning an income. It is designed to replace up to 66% of your gross income on a tax-free basis should you become disabled. It covers both long term and short term disabilities. Don’t think… Continue reading When Should a Business Owner Consider Disability Insurance?
Long term care insurance covers you for the expense of a in-home nursing care, nursing home, hospice care, assisted living, adult daycare, respite care, and Alzheimer’s facilities. As with any other insurance plan, long term care insurance seeks to protect you against a major loss that you can ill afford. When you think of it, the… Continue reading 5 Reasons A Business Owner Should Consider Long Term Care Insurance
Many homeowners or car owners are shocked, after an accident, to find that their insurance does not pay for all of their losses (or those of someone they injured), or in some cases, even most of their losses. How Much is Enough? Whether you have the right amount and type of coverage may well depend… Continue reading Are You Sure You Have Enough Home, Auto, And Recreational Vehicle Insurance to Protect Your Family?
So, you did a will, trust, or even a full estate plan. Great! Is it fully funded? Do you understand what that means? Have your financial circumstances changed such that your assets are different today than they were five years ago when you did your will? If you have not also changed your will (or… Continue reading How Do You Know When It Is Time to Have Your Will or Trust Reviewed?
I tried for 15 years to get my friend to do some basic Estate Planning. I urged him, at a bare minimum, to create a will. Better, do a full estate planning package: will, living trust, etc. He assured me he didn’t need my help, and that he had everything “under control” without spending money… Continue reading What Happens To My Stuff When I Die? Estate Planning Made Easier
In Nevada, the appointment of a receiver over a business may be appropriate if: The appointment of a receiver is governed by statute and is appropriate only under circumstances described in statute. State ex rel. Nenzel v. Second Jud. Dist. Ct., 49 Nev. 145, 155, 241 P. 317 (1925); Shelton v. Second Jud. Dist. Ct.,… Continue reading The Standard for the Appointment of a Receiver in Nevada
What is an Umbrella Insurance Policy? “Umbrella” or “excess coverage” insurance is an extension of your home and auto insurance policies. Most often, an insurer will only provide umbrella coverage if both your home and autos are insured with that company. The policy kicks in after all of your homeowner or auto policy coverage has… Continue reading Why Should I Consider Umbrella Insurance?
What are the Advantages of Having a Trust? The type of Trusts we are discussing here is not designed to secret your millions away in an account in the Grand Caymans to protect it from your creditors. We are talking about a Living Trust, which is an agreement under which you (acting as trustee) hold… Continue reading You Say Trusts AREN’T Just for Rich People Anymore?