All individuals and families benefit from a carefully drafting their estate planning. Through creating a comprehensive estate plan, an individual can plan for the disposition of his or her assets upon death. But a comprehensive estate plan allows an individual to do more than this. A comprehensive estate plan also allows an individual to plan for issues that may arise during the individual’s lifetime, such as who will make financial and healthcare decisions for the individual in the event that an accident or illness renders the individual incapable of making his or her own decisions. Such a plan even allows an individual to plan for the method of disposal of the individual’s remains at death.
Often, people mistakenly believe that an “estate plan” only involves drafting and executing a will. While a carefully drafted and executed will is often a vital piece of an individual’s estate plan, a comprehensive estate plan generally includes other important documents such as durable powers of attorney, advanced healthcare directives (“living will”), a disposition of remains document, irrevocable and revocable trusts, and powers of appointment. Thus, creating a comprehensive estate plan is extremely important because it allows an individual to not only plan for the disposition of his or her assets after death, but also to plan for contingencies that may arise during the individual’s lifetime.
Without a properly executed and comprehensive estate plan, however, state law determines both the distribution of an individual’s assets upon death and also who would make important financial and healthcare decisions for the individual in the event that the individual became incapacitated during his or her lifetime. It is important to keep in mind the fact that state law does not take into account an individual’s particular desires, interests, and goals. As you can imagine, this often leads to contention, stress, and uncertainty. Thus, one of the best things that you can do for yourself and your family is to plan for the immediate and long-term future by putting into place a comprehensive estate plan.
Estate Planning, Wills, and Trusts Practice
R. Vaughn Gourley, P.C.’s estate planning attorneys possess experience and an understanding of the various estate planning tools, principles, and laws. Our attorneys assist clients throughout Las Vegas, Henderson, and Clark County in various estate planning matters, ranging from drafting essential documents to representing clients in probate court. We understand how crucial it is for you to put in place a well-informed and thought-out estate plan. We know that this is one of the greatest decisions you can make not only for yourself, but also for your family. R. Vaughn Gourley, P.C.’s estate planning attorneys stand ready to represent you in your estate planning needs. Call us today, or use the Contact Us section of our website to have us help you get started with your estate planning.