Most people would rather not contemplate their own death. Unfortunately, avoiding the topic can be costly and time-consuming. Nevada residents that create an estate plan after consulting with legal and financial advisors often find that any awkwardness or discomfort associated with talking about their death is far outweighed by the peace of mind that results from knowing that their loved ones are being provided for after death. In addition, with the ever-changing tax laws, there is no advantage to delay in creating an estate plan.
Many people also make the mistake of thinking that their assets are not significant enough to necessitate estate planning. However, in addition to providing for the distribution of assets, a thorough estate plan can designate a trustee or health care proxy to make financial or medical decisions in the event the individual becomes incapacitated.