There are many legal strategies involved in estate planning, including wills, revocable living trusts, irrevocable trusts, durable powers of attorney, and health care documents. Estate planning in Nevada also must account for the fact that Nevada is one of only nine Community Property States in the country. Community Property offers married couples some unique advantages, as well as challenges, both of which must be appropriately considered in any comprehensive Nevada estate plan.
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Advanced Estate Planning is an enlightened "integrated wealth strategies" plan for you, your business and your family. Sundvick Legacy Center helps business owners, real estate owners and families with taxable estates by resolving messes, transitions, protection and complex tax issues.
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The federal estate tax is an excise tax levied on the transfer of a person's assets after death. In actuality, it is neither a death tax nor an inheritance tax, but more accurately a transfer tax. There are three distinct aspects to federal estate taxes that comprise what's called the unified transfer tax: estate taxes, gift taxes, and generation-skipping transfer taxes. Legal planning to avoid or minimize federal estate taxes is both prudent and an important aspect of comprehensive estate planning.
Learn more about federal estate tax (death tax) minimization.
Probate and estate administration are the processes through which estate assets are transferred after death. In Nevada, a probate court proceeding is required for estates valued at more than $20,000. Nevada also requires appointment of a personal representative and a formal probate court proceeding for estates of more than $100,000. The personal representative's duties and the probate process itself will vary depending on the nature and value of the estate assets, the terms of the will (if there is one), and etc. The Sundvick Legacy Center can help make the process easier, more efficient, and provide peace of mind during a difficult time.
Learn more about Nevada Probate and Estate & Trust Administration.
Nevada is a business-friendly state and the advantages of forming a Nevada corporation or a Nevada LLC are substantial. We assist clients in choosing which Nevada business entity (or entities) is best for their situation. We also help business owners with the unique challenges of business continuation, succession and even business exit strategies. We also work with family business owners to coordinate the business and family estate plans and meet the challenges of estate equalization while ensuring family harmony and the ongoing health of the business.
Learn more about estate planning challenges for business owners.
Family businesses are the backbone of the American economy. From agriculture to services, technology and manufacturing, family businesses generate an estimated one-half of the U.S. Gross National Product and pay half of all wages earned in this country.
Find out how we can help you preserve your family business.
Asset protection planning involves making prudent decisions today to protect yourself, your business, and your hard-earned assets from loss due to lawsuits, creditors or bankruptcies. Nevada has some of the strongest asset protection laws in the country. As a Las Vegas asset protection lawyer, Lizette employs several unique Nevada Asset Protection strategies, including the Nevada Series LLC and Nevada Spendthrift Trust (also known as the Nevada Asset Protection Trust).
Learn more about Asset Protection in Nevada.
The Sundvick Legacy Center encourages and assists the tradition of giving to charitable causes. In addition to the many personal rewards inherent in making a charitable gift, most gifts also provide a current charitable income tax deduction. However, some also can save capital gains taxes, increase income, and provide you, or whomever you designate, with an income for life. Additionally, these types of gifts may provide an estate tax deduction — an important consideration in planning your estate.
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Elder law is another aspect of estate planning, focusing primarily on the needs of families and individuals as they age. Issues of aging include senior housing and home care, long-term (or nursing home) care, guardianships and health care documents, and Medicare, Nevada Medicaid and pre-Medicaid planning.
Learn more about elder law services.
Special Needs Estate Planning focuses on providing for the special needs of our loved ones with disabilities when we are no longer there to organize and advocate on their behalf. Parents of children with special needs must make careful estate planning choices to coordinate all of the legal, financial, and special care needs of their children – both now and in the future.
Learn more about special needs planning.
Although it cannot replace you, a Pet Trust can provide your friends with love and care for the rest of their lives.
Learn more about pet trusts.