We offer a range of Estate Planning services, all designed to help you reach your goals of caring for your loved ones. Whether you're looking for a small amendment of your Revocable Living Trust or complete Restatement, we have you covered. Our services are available flat fee or a la carte so you can get precisely what you need.
Medicaid rules are complicated, but offer several opportunities to protect your wealth from government confiscation. Preplanning uses an in depth knowledge of Medicaid rules, to allow you to maximize the wealth you can pass to your loved ones and still qualify for Medicaid benefits.
One example, did you know that a Special needs Trust created by a Testamentary Instrument (Will) is exempt from Medicaid. Does your current Pour over will take advantage of this opportunity?
One Third of everyone will need to live in an assisted living facility or a skilled nursing facility, at some point in their life. Medicaid is the only government program that pays for long term care in a skilled nursing facility.
Medicaid Crisis is when you or a loved one needs Medicaid assistance, but can't qualify for the assistance needed. Each month a check for $7000 or more is written for care diminishing your nest egg. This can be especially stressful for the healthy spouse.
We are skilled at helping people qualify for Medicaid and retain as much of their life savings for loved ones.
NO MATTER WHAT PLANNING AN INDIVIDUAL HAS DONE THERE ARE THINGS THAT NEED TO BE DONE WHEN THEY PASS.
The loved one needs to be laid to rest, taxes have to be paid both from the beginning of the year to date of death and Estate Taxes have to be calculated. Creditors need to be paid and your loved ones wishes carried out.
This process is called Probate or Settlement.
PROBATE IN NEVADA
The type of Probate required in Nevada breaks into four categories based upon the Gross Value of the Estate and the ownership of Real Property.
1) Estates less than $20,000 A Letter or Affidavit of Entitlement can be done.
2) Estate less than $75,000 A Set Aside Estate without Administration can be done.
3) Estates up to $200,000 A Summary Administration can be done.
4) Estate over $200,000 require a General Administration.
As the value of the gross estate increase, so does the complexity of the the probate, which increases cost and the time required. The best way to avoid probate is to do solid Trust based estate planning.
When someone has done Trust based Estate Planning the Process is called Settlement. The Six Tasks that occur when someone dies still need to be done, but the process is much faster, lower cost and simple.