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COVID-19 Creates a Stark Reminder That Even a Basic Estate Plan is Far Better Than No Plan

Last modified: October 20, 2023

COVID-19: An Example of Just How Unpredictable Life Can Be. Why a Revocable Trust May Be a Great Starting Point For You

If COVID-19 has made you take a closer look at your financial plans, you’re not alone. You may have only recently started establishing a basic estate plan, or you may be rethinking the plans you had previously put in place. Now is a great time to review your financial strategies and consider establishing a revocable trust as part of your estate plan.

Chances are, you know the fundamental differences between a will and a trust, but have you considered why a trust might be the better decision for you? First, we review the differences and benefits of each.

Continue reading COVID-19 Creates a Stark Reminder That Even a Basic Estate Plan is Far Better Than No Plan →

Posted in Estate Planning, Living Trusts

COVID-19: Why Estate Planning is More Important Than Ever

Last modified: November 10, 2023

A brief overview of the two most common estate planning strategies

The current global health crisis has left many people uncertain about the future. Now more than ever, having a financial plan in place is crucial. Not only should you consider your immediate and short-term financial goals, but you should also look at long-term planning.

Specifically, what plans do you have in place to make sure your wishes are carried out and your family is taken care of after you are gone?

We review the basics of Estate Planning and what to consider in light of COVID-19.

Continue reading COVID-19: Why Estate Planning is More Important Than Ever →

Posted in Estate Planning, Living Trusts, Trusts

Deciding Between a Will and a Trust? The Distinctions You Need to Know

Last modified: September 6, 2023

The Basics of Wills and Trusts and What You Need to Know About Probate

We get a lot of questions about the differences between a will and a trust – but there are a few more distinctions we think you should know.

Understanding how to protect your assets and your family requires knowledge of what protections your will, trust, or testamentary trust actually grants you and your beneficiaries.

Continue reading Deciding Between a Will and a Trust? The Distinctions You Need to Know →

Posted in assest protection, Estate Planning, Living Trusts, Trusts

Awareness of NING Trusts Growing Nationally

Last modified: November 10, 2023

Nevada Incomplete Non-Grantor Trusts (or, “NINGs”) are growing in popularity and usage across the country. NINGs provide the grantor of the trust asset protection and the potential to minimize local and state income taxes on investable/intangible assets.  As this NASDAQ.com Article on NINGS, these types of trusts are not for everyone.

Continue reading Awareness of NING Trusts Growing Nationally →

Posted in assest protection, assest protection trusts, decanting trusts, Economy, Estate Planning, Financial News, Lake Tahoe, Las Vegas, Living Trusts, Nevada, Nevada Trusts, NING, NINGs, privacy, Silicon Valley, Taxes 2 Comments

Estate Planning for Blended Families is Critical

Last modified: November 10, 2023

Family dynamics can always be challenging but are even more so in blended families.  Friction between ex-spouses and children from other marriages can boil over when parents pass away.  If proper estate planning is not done in advance, the courts step in to divide family assets.   This is never an easy situation, and in the case of blended families, this process can create great animosity.  Well regarded Nevada estate planning attorney Scott Halvorsen recently wrote an excellent article on this topic.  Nevada has some of the best trust and estate laws in the country and may give you more options and strategies that your home state laws.  If you have questions about how estate planning topics impact your family, please call Alliance Trust in Reno at 775-297-4000.

Posted in assest protection, assest protection trusts, Estate Planning, Lake Tahoe, Las Vegas, Living Trusts, Nevada, Nevada Trusts, Taxes
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