Probate is a complex process that involves arranging the final affairs after an individual passes on. This includes administering the estate, resolving creditor claims against the estate and distributing the individual’s assets according to a will or the laws of intestate succession.

Benefits of a Trust

You may have heard about Living Trust benefits to avoid probate and legal battles, lowering taxes and protecting privacy. It is important to receive solid estate planning guidance before making final decisions, and to carefully weigh your options before settling on a plan.
You don’t have to be a billionaire to benefit from an estate plan. At The Law Offices of Pamela Jones, we find that creating an estate plan is a process of tailoring your intentions for the future, so each plan is uniquely individual. Whether you own a home, or five, have minor children, adoring pets, grandchildren, grown children in their own marriages, have been divorced, own a business, or expect to receive an inheritance acting now is in your best interest.

Living Trusts

Providing materially for an heir or heirs is one of the most common reasons for creating a Living Trust. For parents with minor children, a trust allows a parent to provide for a child without giving the child control over the property. The parent can also mandate how the property is to be distributed and for what purposes.
A trust is also a useful tool for taking care of heirs who have mental impairments or lack investment experience. The trust document can establish that all money is controlled by a trustee with sound investment experience and judgment. A trust may be created to preserve the integrity of funds when the heir has a history of extravagance. It can protect the property from the recipient’s squandering as well as from his or her creditors.

Essential Goals

Another essential benefit of a Living Trust is the avoidance of probate. When Property is transferred into a trust, it is no longer considered part of the probate estate. The property is then no longer subject to what sometimes results in a long and complex process of probate. The property is instead administered and distributed by a pre-selected trustee, according to the specific terms of the trust.

Wills and probate are public matters; however, a Living Trust keeps the estate private. Probate loss of privacy is due to the fact that typical probate documents list all assets, appraised value and names of new owners. This information can be seen by everyone from well-intentioned marketers and creditors to the media and scammers.

Additionally, eliminating or reducing taxes is an important goal of estate planning. Trusts allow for a highly flexible approach to estate taxes. As members of the American Academy of Estate Planning Attorneys, we draw from a pool of up-to-date research on estate and tax planning, educational materials to provide superior estate planning services.

Call For An Initial Consultation

Call the The Law Offices of Pamela Jones toll free at 702-960-0081 or contact us online to schedule an initial consultation with a probate lawyer in Las Vegas, Nevada.