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There’s a common misunderstanding that an ordinary revocable living trust protects assets from creditors. The reality is that a trust must be ‘irrevocable’ to serve as effective asset protection. These types of trusts are also called ‘spendthrift trusts.’ A beneficiary, who receives the income or benefit of the property, does not readily have the power to transfer the trust property, revoke the trust, or modify the trust. The absence of control over the trust property

A dispute among beneficiaries and the trustee of a family trust is difficult because it involves blood ties and betrayal. When there’s enough at stake lawyers get involved. Some attorneys steer their clients down the garden path of litigation – which takes ages. The wheels of justice move at a snail’s pace and cases may take years to resolve. Not to mention court battles are costly, public, and unpredictable. Good modern legal advocacy involves giving

As children we’re dependent on our parents for all our needs. It seems ironic that our final days may be spent under the care of the children we once cared for. Elderly dependents are vulnerable like small children, but they often have assets. In 2011 Nevada adopted NRS 155.097 which seeks to protect dependent adults from people acquiring their property through fraud, duress or undue influence. Caregivers who expect to receive gifts through wills, trusts,

The word “Trust” started popping up around the 12th Century. It meant reliance on the veracity and integrity of someone or something. When you create your Living Trust you name a Trustee responsible for managing the trust and its property. After you pass away a Trustee with veracity and integrity will faithfully follow the instructions you left in the Trust documents. Additionally, the Trustee you select needs to have the ability and inclination to get

Durable Power of Attorney for Assets This is a legal document that appoints a person you trust to handle your financial matters if you are incapacitated. If you don’t have a Durable Power of Attorney for Assets a court will appoint one for you. Durable Powers of Attorney for Healthcare This is a document that lets you name someone else to make decisions about your health care in case you are unable to make those