Father remarried. Upon death, without a will or revocable living trust, the surviving spouse would not give you the mounted deer head you shot with your dad when you were 12 years old. Let alone any other memorable possessions in the home.
Aging parent does not have a Power of Attorney for Health Care. The aging parent becomes mentally unstable, violent, and needs to be removed from the home. First responders must involve law enforcement to legally remove the individual to where they can receive care. All during a crisis situation occurring.
Parent remarries and eventually passes. Without a will or revocable living trust, the surviving spouse inherits all and the biological family members become disinherited.
It sounds like a solid idea to add individual(s) to your bank account. Should situations change for the individual(s) such as financial hardship, addictions, etc., they may wipe out your assets. A revocable living trust provides the legal support without the risk.
Divorced and their ex-spouse may have gained from the inheritance. Specific language in the revocable living trust can prevent this.
A child with a disability inherits assets and the state requests those assets to offset the financial support the state provides.
I am not an attorney in the State of Nevada I am not authorized to give legal advice or legal representation. I may not accept fees for giving legal advice or legal representation. NRS 240A.150
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.