Wills & Trust
Las Vegas Wills & Trusts Lawyers
Winters Spelman, PLLC is the premier choice in Clark County for assistance in creating, altering, or managing a will or trust. We have served thousands of clients, many needing guidance concerning high-net-worth estates and complex tax situations. With our Las Vegas wills and trusts attorneys’ extensive experience and impeccable track record, you can count on us to guide you through estate planning and help you make crucial decisions to preserve your legacy.
Why Create a Will?
Wills are an essential estate planning tool that virtually everyone should utilize. Creating a detailed will can protect loved ones from numerous uncertainties and stresses in the wake of your passing. Without a will, Nevada laws will determine how to distribute your assets and belongings, which may not align with your preferences or be in the best interests of those you hold dear.
Things a Will Can Include
Your will can (and should) include the following:
Details about assets and how to distribute them. The document must identify and provide proof of ownership of assets, from real estate and vehicles to bank accounts. Your will should also name beneficiaries of these assets.
Nomination of guardians for minor children. If you have children under 18 or with special needs, your will can specify who you would like to be their legal guardian in the event of your death.
Appointment of an executor. An executor is responsible for managing your estate and ensuring your wishes are fulfilled. You can choose someone you trust to serve as executor in your will.
Can You Change a Will?
Yes, Nevada law allows you to change your will by making a codicil, which can modify or completely eliminate certain provisions in your existing will. You can also draft a new will that better aligns with your current desires.
How Probate & Trusts Work in Nevada
How Long Does Probate Take?
Nevada probate carries a minimum period of 120 to 180 days, driven largely by the creditor notice requirement: notice must be published once a week for three consecutive weeks in a newspaper of general circulation in the county where the petition was filed, with direct mail notice sent to known creditors as well. That minimum is a floor, not a ceiling. General administration proceedings involving disputes, unknown assets, or federal estate tax obligations can extend well beyond six months. We work methodically to minimize unnecessary delays while keeping the process moving.
What Is a Trust?
A trust is a legal arrangement in which a grantor transfers assets to a trustee to hold and manage for the benefit of one or more beneficiaries. Trusts are a common component of estate planning precisely because they allow assets to pass outside of probate, which can give beneficiaries faster access and preserve privacy.
Types of Trusts
The two most common forms are revocable and irrevocable trusts. A revocable living trust can be modified during the grantor’s lifetime and allows assets to pass directly to beneficiaries without going through probate in Nevada. An irrevocable trust, by contrast, can’t be changed once established. Assets transferred into it are generally protected from creditors and may reduce the grantor’s taxable estate, which matters when federal estate tax exposure is a concern.
Trust Administration in Nevada
Avoiding probate through a revocable living trust doesn’t mean the estate administers itself. After the grantor’s death, the trustee must formally administer the trust in compliance with Nevada and federal law. The trustee holds a fiduciary duty to act in the best interests of the beneficiaries at each step, maintaining accurate accounting and distributing assets strictly according to the trust’s terms. Mistakes in that process can expose the trustee to personal liability.
Trust administration typically involves the following steps:
Notifying beneficiaries of the trust (Nevada law requires this, and challenges to the trust’s validity must generally be made within 120 days of receiving notice)
Inventorying and appraising assets held in the trust
Paying applicable taxes, including any federal estate tax obligations
Accounting for all trust administration activities
Distributing assets to beneficiaries per the trust’s terms
Administering a trust correctly requires a working understanding of both Nevada law and federal tax obligations. Our attorneys guide trustees through each stage, helping them fulfill their fiduciary duties while reducing exposure to beneficiary disputes or personal liability claims.
What to Know About Trusts
A trust is another estate planning tool that allows you to transfer assets to a trustee who will manage them for the benefit of designated beneficiaries. Trusts differ from wills in a few significant ways. First and foremost, assets in a trust can generally be allotted to beneficiaries without probate. Additionally, trusts can shield assets from creditors and reduce estate taxes.
The Types of Trusts We Can Help You Establish
We offer comprehensive estate planning services and can help you establish these types of trusts and others:
Revocable living: Protects your assets while allowing you to maintain control over them during your lifetime
Irrevocable: Offers notable asset protection and tax benefits, but the trade-off is that you cannot change or revoke the trust
A-B: Designed to minimize estate taxes for married couples
Pet: Allows you to leave assets that will be used to care for your beloved pet after your passing
Grantor: Lets you transfer assets into a trust while still retaining control over them
Asset protection (NAPT/DAPT): Can preserve assets from liabilities, such as lawsuits and creditor claims
Qualified charitable:
Spousal lifetime access:
NFA firearms/gun: Specifically designed to transfer ownership of firearms and comply with federal regulations
Are you unsure what trust is right for your situation? Consult one of our attorneys at Winters Spelman, PLLC. They can provide insights and direction backed by years of experience in estate planning.
When Should You Create a Will or Trust?
It is never too early to start planning your estate. In fact, the earlier you begin, the more options and flexibility you can have. However, certain life events may prompt you to update or create a will or trust, such as marriage, the birth of a child, divorce, or retirement.
Turn to Our Las Vegas Wills & Trusts Lawyers for Estate Planning
Depend on Winters Spelman, PLLC to be your estate planning resource. Whether you are looking for tax-saving strategies, guidance on handling your estate plan after divorce, or assistance updating an existing will or revocable trust, we can deliver what you need. Discuss our firm’s offerings in a complimentary consultation.
Start with Winters Spelman, PLLC by connecting with us online or calling 702-832-0342. We serve clients in Las Vegas and throughout Clark County.
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