Estate Planning

An Estate Plan is a document or group of documents which are prepared in order to protect a person’s assets in the event of their death or incapacity. The actual documents comprising the estate plan will vary from one law firm to another. At Harvey Law Firm, a basic will package includes:

• Will
• Memorandum for Distribution of Personal Property
• Declaration of Authority of Remains upon Death
• Burial Instructions
• Financial Power of Attorney
• Healthcare Power of Attorney
• Living Will
• HIPAA Authorization
• Declaration of Homestead

Nevada offers unique benefits for people organizing their Estate plan under its laws. Anyone can have a Nevada Estate Plan, subject to certain requirements.

Spend Thrift Trusts. Chapter 166 of the Nevada Revised Statutes provides protection from certain creditors to borrowers who create a trust under this law. If you need to protect your assets from the reach of judgment creditors, and if you can meet the requirements of Nevada law, schedule a consultation with Harvey Law Firm to explore the usefulness of these laws in your particular situation.

Duration of Trusts. In most states, a trust can only “live” according the Rule Against Perpetuities. Under that rule, the trust must dissolve upon the death of the youngest life and being at the time of the death of the grantor. Under Nevada law a trust can “live” for 365 years.

Supplemental Needs Trust/Special Needs Trust. If you are the recipient of government or other benefits that would be offset or even disappear if you receive money in a personal injury settlement, inheritance, or other means, you might benefit from the use of a supplemental needs trust, also called a “Special Needs Trust”. A supplemental needs trust restricts the beneficiaries access to all of their assets, but allows the beneficiary to receive the benefit of those assets without losing governmental or other benefits for primary support. If you find yourself in such a situation, contact Harvey Law Firm to schedule a consultation to determine whether a supplemental needs trust will help you in your particular circumstances.