Nothing Prepares You More for the Future than an Estate Plan.


Estate Planning | McDonald Law Group

To start the New Year off right, you'll want to make sure you have all these items checked off your list. If you don't have this list completely checked off call our office today to set up a consultation to discuss your options. 

1. A Will. In a Will, you state who you want to inherit or distribute your property and name a guardian to care for your young children should something happen to you or your spouse.

2. A Trust. A living trust is a trust that is created during your lifetime. In other words, while you are still alive, you transfer title to your property from your name to that of the trust. There are different types of trusts that can be done depending on your needs. You should discuss with your attorney what assets you want protected so they can advise you on the trust that best suits your needs.

3. Power of Attorneys. With a durable power of attorney, you can give a trusted person authority to handle your finances and property or medical decisions if you become incapacitated and unable to handle your own affairs. 

4. Beneficiaries. Naming a beneficiary for bank accounts and retirement plans makes the account automatically "payable on death" to your beneficiary and allows the funds to skip the probate process. 

5. Storing your documents.  It is a good idea to compile the necessary documentation and make your executor or successor trustee aware of its location.  They may need access to the following documents:

will

trusts

insurance policies

real estate deeds

certificates for stocks, bonds, annuities

information on bank accounts, mutual funds, and safe deposit boxes

information on retirement plans, 401(k) accounts, or IRAs

information on your debts: credit cards, mortgages and loans, utilities, and unpaid taxes

information on funeral prepayment plans, and any final arrangements instructions you have made.


This article was provided for informational purposes only and does not constitute legal advice or establish an attorney-client relationship.

​​​​© 2018 McDonald Law Group

McDonald Law Group

Email: info@mcdonaldlawgroup.com
Phone: 702.448.4962


203 S. Water Street Suite 300

Henderson, NV 89015

This information is provided for information purposes only. It is not legal advice and does not constitute an attorney-client relationship. The attorneys of McDonald Law Group are licensed to practice law in the State of Nevada. The attorneys of McDonald Law Group are not licensed to practice law in any state other than Nevada.