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A Will is a necessary document in that it you can nominate Guardians for Minor Children (if applicable). After you pass away, your Will must be filed with the probate court and is subject to the entire probate process in order for its provisions to be carried out.

Yes, you can set up a trust without a lawyer if your estate is a simple one, with few assets and straightforward instructions regarding the disbursement of your estate. You don't necessarily need a lawyer's expert help.

DISADVANTAGES OF A TRUST Most importantly, a trust will cost more than a last will at the initial stage of planning and you have to provide more information up front. Furthermore, a trust contains more complicated documents than a last will and states that your assets must be assigned to the trust.

We offer a revocable living trust package for a flat fee of $1,195 total. There are no hidden fees or costs and that is the total price whether single or joint. A Trust is generally good for anyone who owns a home, has minor children, or beneficiaries who shouldn't receive all of their inheritance at one time.

Nevada has no state or corporate income tax. Therefore, income generated from the trust is never taxed on a state level. Nevada allows for Dynasty Trusts that can last for 365 years, skipping many generations for estate tax purposes.

If the cost of establishing and maintaining a trust is reasonable in relation to your assets and goals, a trust generally can settle your estate more quickly than a will and can provide confidentiality for trust assets.

Privacy is one of the key benefits of a living trust Nevada. A will becomes public record when it goes through probate. A trust does not become public record. Your assets, beneficiaries, and the terms of the trust remain private.

The short answer is no. One of the great benefits of a living trust in this era – where is it difficult to keep anything private and out of the public domain – is that a living trust is confidential. It does not need to be recorded, filed, or registered except in certain circumstances discussed below.