Trusts
Las Vegas Trusts Attorney
Take Action Today To Meet The Needs Of Tomorrow: (702) 703-6998
A well-executed trust protects an estate against probate and unnecessary taxation while allowing for its income to be distributed to designated beneficiaries according to the wishes of the grantor. At Bowler Twitchell LLP, we have years of experience and substantial skill in creating trusts that execute your intentions regarding the distribution of your estate and protect the value of your assets for generations to come.
Why Choose Our Las Vegas Trust Lawyers?
- 50+ Years' Collective Experience
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To speak with a Las Vegas trusts attorney about how to avoid estate tax and diminished value of assets, call (702) 703-6998 or contact us online. We look forward to helping you.
Types of Trusts
A variety of trusts is available to meet your unique financial needs, including:
- Irrevocable life insurance trusts
- Nevada Asset Protection Trusts (NAPT)
- Special needs trusts
- Revocable living trusts
- Irrevocable living trusts
- Charitable trusts
- Trust Administration
Which Type of Trust Is Right for You?
Choosing the right type of trust is a critical decision in estate planning, and several factors will influence this choice. At Bowler Twitchell LLP, our experienced Las Vegas trust attorneys can help you understand these factors and select the trust that best suits your unique financial needs and goals.
You may want to consider the following factors when choosing a trust:
Control Over Assets
Revocable Living Trusts:
If you want to retain control over your assets during your lifetime, a revocable living trust may be the best option. This trust allows you to modify or revoke it as your circumstances change, providing flexibility and ensuring smooth management of your assets if you become incapacitated.
Irrevocable Living Trusts:
For those looking to minimize estate taxes and protect assets from creditors, an irrevocable living trust is ideal. This type of trust removes assets from your taxable estate and shields them from legal claims, although it cannot be altered or revoked once established.
Tax Considerations
Irrevocable Life Insurance Trusts:
If minimizing estate taxes is a priority, an irrevocable life insurance trust (ILIT) can be beneficial. This trust holds life insurance policies, ensuring that the proceeds are distributed according to your wishes and are free from estate tax liabilities.
Asset Protection
Nevada Asset Protection Trusts (NAPT):
For robust protection against creditors and lawsuits, a Nevada Asset Protection Trust offers significant advantages. This trust allows you to transfer assets while retaining some benefits, safeguarding your wealth from potential legal claims.
Beneficiary Needs
Special Needs Trusts:
If you have a beneficiary with disabilities, a special needs trust can provide financial support without affecting their eligibility for government benefits like Medicaid and Supplemental Security Income (SSI). This trust ensures the beneficiary has access to additional resources to enhance their quality of life.
Testamentary Trusts:
If you wish to provide for minor children, manage assets for beneficiaries who are not ready to handle them, or support a surviving spouse, a testamentary trust may be appropriate. Created through a will, this trust takes effect upon your death and provides long-term asset management.
Charitable Intentions
Charitable Trusts:
For those looking to support charitable organizations or causes, charitable trusts offer tax advantages and the ability to make a meaningful impact. Charitable remainder trusts (CRTs) and charitable lead trusts (CLTs) each offer different benefits depending on your philanthropic goals.
Choosing the right trust involves a thorough understanding of your financial situation, family dynamics, and long-term objectives. Our knowledgeable Las Vegas estate planning lawyers can guide you through the process, helping you evaluate these factors and create a tailored solution to protect your assets and ensure your wishes are fulfilled.
What Are the Benefits of Creating a Trust?
The largest benefit of obtaining a revocable trust is that you can have your properties and assets managed on your behalf and in your best interests by a knowledgeable and experienced third party. You have the ability to make changes to the trust when necessary to your greatest benefit.
You can take full control of the decisions made in the trust. In the event of a contested trust, our Las Vegas trust attorneys are adept at efficiently and effectively litigating trust contests and resolving estate planning disputes. It is always our goal to spare our clients any avoidable expense and emotional toll of a drawn-out legal battle between family members. We can also assist with trust administration matters; ensuring that the duties of the administrator are properly performed in good faith in the best interests of the trust beneficiaries.
Protect Your Loved Ones with a Living Trust
A living trust is a valuable estate planning tool that allows you to protect and provide for your loved ones even after you're gone. Unlike a will, a living trust can help you avoid the lengthy and costly probate process, ensuring that your assets are distributed according to your wishes in a more efficient and private manner.
Benefits of creating a living trust include:
- Avoiding probate: By transferring your assets into a living trust, you can bypass the probate court process, saving your loved ones time, money, and stress.
- Privacy: Unlike a will, a living trust is not a public document, so your estate and its distribution remain private.
- Flexibility: With a living trust, you have the ability to make changes or revoke the trust at any time, giving you the peace of mind that your estate plan can be adjusted as needed.
- Protection for incapacity: A living trust can provide for the management of your assets and healthcare decisions in the event that you become incapacitated.
- Control over distribution: With a living trust, you can specify how and when your assets will be distributed to your beneficiaries, ensuring that your wishes are carried out.
At Bowler Twitchell LLP, our experienced Las Vegas trust attorneys can help you create a comprehensive living trust that meets your unique needs and protects your assets for future generations. Contact us today at (702) 703-6998 to schedule a consultation and take the first step toward securing your family's future.
Get Help Protecting Your Assets
To discuss how specific trusts can be valuable aspects of your estate plan, contact our firm to speak with a Las Vegas trusts lawyer online or by telephone. For your convenience, we accept all major credit cards.
Call (702) 703-6998. We serve clients throughout Nevada, and we offer our legal services in Spanish.
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Reputable & Law-Abiding Law Firm
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We provide insight and guidance regarding every aspect of estate planning.
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We will always give you the personalized attention you deserve.
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We will make your case our top priority.