Estate planning is more than just having a will . . . .
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Introduction to Estate Planning Estate planning is more than just having a will . . . . |
Estate planning is the planning of the acquisition, preservation, and ultimate disposition of one's assets. The focus in these pages is on the transfer of assets at death. They are intended to motivate the reader to do something and to do it right. The first law of estate planning is a modified version of Murphy's Law: "If anything can go wrong, it does, and usually when it's too late to correct."
To prepare a will or even a trust that meets the minimum legal requirements is relatively easy, but to prepare an effective estate plan, you must know what what your options are and the consequences flowing from those options. Preparing estate planning documents without adequate knowledge of the legal, tax, and practical effects of those documents is like traveling in a car without a map. Just as a map of Pennsylvania will not help you travel through California, estate planning information that comes from someone who is not familiar with the laws of your state may lead you down the wrong path. You need to:
The articles that follow in these pages are intended to give a simple, easy-to-understand overview of estate planning techniques ranging from the basic to the sophisticated. These articles were written by Nevada estate planning attorney Layne T. Rushforth, and a brief biography gives a few boring details about him. This information is not a substitute for personal, professional advice, but it is hoped that it will provide a foundation for a basic understanding of the laws that affect estate planning and the tools we use to accomplish our objectives.
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