Archives for ESTATE PLANNING

EVEN WEALTHY CELEBRITIES MAKE ESTATE PLANNING MISTAKES

Having money doesn’t mean that you have prepared your estate for your heirs. These are just a few examples where the correct legal advice could have saved millions of dollars, time, and heartache. Prince R. Nelson, commonly known as, Prince; his mistake was not having a Will or estate plan. The April 2016 death of entertainer Prince wasn’t just shocking because he was only 57 years old. Many people were surprised the “Purple Rain” singer had no will. It has taken a Minnesota judge over one year to make the decision on how to distribute Prince’s estimated $300 million estate
Read More

COMMON ESTATE PLANNING MISTAKES

We understand that it can be very difficult to discuss what has to be done with assets and property when you pass away; however, if you have not prepared your estate it can be even more complicated and expensive for your family to navigate the probate process when you pass. Here at McDonald Law Group, we help make that process as smooth and simple as possible. We have experienced attorneys that can assist you in developing a well detailed plan to protect the assets that you have been working hard to acquire throughout your lifetime. A Few Common Mistakes  
Read More

3 POWERFUL POWER OF ATTORNEY DOCUMENTS: YOUR VOICE WHEN YOU CANNOT SPEAK FOR YOURSELF

The Power of Attorney is a document that lets someone make legal decisions on your behalf if you are unable to do so yourself. There are 3 Power of Attorney documents that you should know about and consider before you need them. When you need them it is already too late. Power of Attorney for Health Care Decisions This designates a trusted person to make life sustaining decisions for you in the event you are unable to do so yourself. This is often referred to as a ‘Living Will’ or ‘Advanced Directive’ because it designates, firmly, what you would like
Read More

WHAT HAPPENS WHEN YOU DIE WITHOUT A WILL IN NEVADA?

Who really wants to think about their own death and what happens to their assets when they are gone. Maybe that is why some people find talking about creating wills is scary. However, if you do not develop an Estate Plan (yes, you have an estate, even if you are not wealthy), including a will and possibly a trust, your possessions and minor children will be given to whom the state decides is best, not what you think is best. When a person dies without a valid will in place, his or her property passes by what is called ‘intestate
Read More

DO I NEED ESTATE PLANNING?

Do I need estate planning? The short answer is yes. If you care what will happen to the assets you worked your entire life to procure, then you must make preparations. No matter the size of your Estate (the property and possessions you own), without estate planning, the State will decide what happens to your things after you pass. If you pass away, and you have not done any estate planning, the legal term for your estate is intestate. There is a statutorily mandated scheme that divides your assets amongst your heirs. Having a will is one step up from intestacy.
Read More

ESTATE PLANNING

Do I need estate planning? The short answer is yes. If you care what will happen to the assets your worked your entire life to procure, then you must make reparations. Estate planning is more important today than ever. If you pass away and you have not done any estate planning the legal term for your estate is intestate. There is a statutorily mandated scheme that divides your assets amongst your heirs. Having a will is one step up. It will allow you to specify to whom you want certain assets to go. So if you want your granddaughter to
Read More

PROTECTING YOUR HOME

Can I get my House for Free? The confusing part of this issue is that the legal theory behind these lawsuits is correct. The banks and mortgage companies are required to follow both state and federal guidelines regarding your loans or when foreclosing on a home. For example, the banks are required to produce copies of your original documents within thirty (30) days of you requesting that they do so. Many banks, partly because the loans have been transferred multiple times, can’t do this. In most states they also require the person signing off to have physical possession of or
Read More