Nevada Living Trust (Revocable) & Pour Over Will with Durable Power of Attorney
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If you're a resident of any State and a homeowner, then you should clearly put your home into a living trust. A living trust makes probate unnecessary. Probate is very expensive – an average home will require a probate fee of about $37,000. Plus, probate is very slow, and it's done in public.
WHAT IS A REVOCABLE LIVING TRUST
A Revocable Living Trust is a document which allows you to distribute your assets to heirs without the supervision of the court. By placing your assets in a trust, you have provided an orderly way to handle your affairs in case of your death. A trust avoids probate. By avoiding probate, you have saved your heirs lots of money and a long tedious court process that could have taken up to two years. You retain 100% control of your estate during your lifetime. You can amend or revoke your trust at any time. The establishment of a revocable living trust could be one of the biggest estate planning steps you have ever taken.
WHAT IS PROBATE
Probate is the process of transferring your property to heirs after you die. This process is accomplished under the direction of the court. Unless you have done pre-planning before you and your spouse die such as a Revocable Living Trust, probate is the only way to transfer your assets to your heirs.
WHY DO A LIVING TRUST
The choice is yours, DO NOTHING, let the state decide what’s best for your family and heirs. Probate Court is extremely costly and time consuming, taking anywhere from 6 months to 2 years. A Living Trust makes probate and its' inherent fees and taxes unnecessary.
This Revocable living trust will enable you to open a bank account in the name of the trust, and after the maturity period (2 years in Nevada - based on statute of limitations laws) the trust will be virtually inpenetrable by creditors and the legal system - as well as any property that you should put in the name of the trust.
If you have any questions, feel free to contact us.
The usual cost of a trust and will like this is $2700.00
If you need to place vehicles or property in the name of the trust you will need to file a separate paper with the clark county recorders office, we do not provide this service - we provide you with the following documents to protect your money and help you pass it along to your heirs.
• Certification of Trust
• Declaration of Trust
• Assignment of Property
• Durable Power of Attorney for Health Care
• Durable Power of Attorney for Finances
• Pour-Over Will
These documents are emailed to you digitally within 72 hours to your paypal email address, or another if you provide one.
This is the information that we will need to create your documents;
Your Full name (the revocable living trust will be in your full name)
example: The John James Smith Revocable Living Trust
The name of your 1st trustee heir and the percentage of your trust that they will receive upon your death
The name of your 2nd trustee heir and the percentage of your trust that they will receive upon your death
3rd, 4th ,5th etc if needed
Please make sure that your trustee heir's are at-least 18 years of age, and that the total percentage of all heir's adds up to 100%
example: Adam Smith 20% , Tanya Woods 80% - (you can have more than 2 heirs if you like)
Please specify the relationship of each heir.
example: Adam Smith 20% (son), Tanya Woods 80% (wife)
Please include the age for each heir
example: Adam Smith 20% (son 19 years old), Tanya Woods 80% (wife 45 years old)
In Total your information should look like this example:
Your Name example: The John James Smith Revocable Living Trust
Your Heirs example: Adam Smith 20% (son 19 years old), Tanya Woods 80% (wife 45 years old)