Estate planning can feel overwhelming when you do not know where to start. There are unfamiliar terms, multiple documents, and decisions that feel too important to get wrong. That uncertainty causes many people to put off estate planning entirely, which is the worst outcome of all.
The truth is that estate planning follows a clear and manageable process. Whether you are starting from scratch or reviewing an existing plan, a checklist makes it easier to see what you have, what you are missing, and what needs to be updated.
The attorneys at the Law Firm of Jeffrey Burr have been guiding Las Vegas and Henderson families through estate planning for more than 40 years. This checklist covers the essential documents, information, and steps that every Nevada family should have in order.
A revocable living trust is the foundation of most estate plans in Nevada. It allows you to transfer ownership of your assets into the trust during your lifetime, and it specifies exactly how those assets should be managed and distributed after your death. The key advantage of a trust over a will alone is that assets held in a trust do not go through probate, which saves your family time, money, and the stress of a court-supervised process.
Your trust should name a successor trustee, the person who will manage and distribute trust assets after your death or incapacity. It should also include detailed instructions for how your assets should be distributed, including any conditions, timing, or protections you want in place for your beneficiaries.
Even if you have a trust, you still need a will. A pour-over will acts as a safety net, directing any assets that were not transferred into your trust during your lifetime to be placed into the trust after your death. Without a pour-over will, those assets would pass through intestate succession, meaning Nevada law decides who inherits them rather than you.
Your will is also the only document where you can nominate a guardian for minor children. If you have children under 18, this is one of the most important decisions in your estate plan.
A durable financial power of attorney authorizes a person you trust to manage your financial affairs if you become unable to do so. This includes paying bills, managing accounts, filing taxes, and handling real estate transactions. Without this document, your family would need to petition the court for a guardianship just to access your bank accounts, a process that is expensive and time-consuming.
In Nevada, a power of attorney is presumed to be durable, meaning it remains in effect even after you become incapacitated. Make sure your document explicitly includes durability language to avoid any disputes.
A healthcare power of attorney designates someone to make medical decisions on your behalf if you are unable to communicate your own wishes. This person, called your healthcare agent, can authorize or refuse treatment, choose doctors and facilities, and make decisions about your care based on your values and instructions.
An advance directive, also called a living will, specifies your wishes regarding life-sustaining treatment if you are terminally ill or permanently unconscious. It addresses decisions about ventilators, feeding tubes, resuscitation, and other end-of-life interventions. This document takes the burden off your family by making your wishes clear in advance.
Walking into your estate planning meeting with the right information makes the process faster, more productive, and less stressful. Here is what to have ready.
Full legal names, dates of birth, and Social Security numbers for you, your spouse, and your children. If you have been married previously, bring details about any divorce decrees or prenuptial agreements that may affect how your assets are distributed. If you have minor children, think about who you would want to serve as their guardian if something happened to both parents.
A list of everything you own and how it is titled. This includes real estate, bank accounts, investment and brokerage accounts, retirement accounts such as 401(k)s and IRAs, life insurance policies, business interests, vehicles, and any valuable personal property. For each asset, note how it is currently titled, whether in your name, jointly with a spouse, or in a trust, and whether it has a beneficiary designation on file.
A list of any outstanding debts, including mortgages, car loans, student loans, credit card balances, and any personal or business loans. Your attorney needs to understand your full financial picture to build a plan that works.
If you already have any estate planning documents, such as a will, trust, power of attorney, or advance directive, bring copies to your meeting. Even if these documents are outdated or were created in another state, they give your attorney a starting point and help identify what needs to be updated. Also bring any beneficiary designation forms you have on file with insurance companies, retirement plans, or financial institutions.
Details on any life insurance, long-term care insurance, disability insurance, or umbrella liability policies you hold. Include the policy number, insurance company, coverage amount, and current beneficiary for each.
An initial consultation gives you the chance to discuss your family situation, your goals, and your concerns. Your attorney will explain the documents you need, recommend strategies tailored to your situation, and answer your questions. This meeting typically takes 60 to 90 minutes.
After your attorney drafts your documents, you will meet again to review everything, ask questions, and sign. In Nevada, wills must be signed in the presence of two witnesses. Trusts, powers of attorney, and healthcare directives have their own execution requirements. Your attorney’s office will coordinate the witnesses and notarization to make sure everything is properly executed.
This is the step that gets missed most often. After your trust is signed, you need to retitle your assets into the trust’s name. For real estate, this means recording a new deed. For bank and investment accounts, it means contacting each institution and updating the account registration. Your attorney should provide a funding guide or assist you with this process. A trust that is not funded does not avoid probate.
Review the beneficiary designations on all life insurance policies, retirement accounts, and payable-on-death accounts. Make sure they align with your overall estate plan. In many cases, your attorney will recommend naming your trust as the beneficiary on certain accounts to keep everything coordinated.
Keep your original signed documents in a secure location such as with your attorney, a fireproof safe or a safe deposit box. Make sure your successor trustee, executor, and healthcare agent know where to find them. Provide copies to the people named in your documents. In an emergency, your family needs to be able to locate these documents quickly.
Estate planning is not a one-time event. Review your plan every three to five years, or after any major life event such as a marriage, divorce, birth of a child, death of a beneficiary, move to a new state, or significant change in your finances. Nevada law and federal tax law change periodically, as well, and your plan should reflect current rules and opportunities.
If any of the following apply to you, it is time to take action. You have no estate plan at all. You have an estate plan from another state, but now live in Nevada. You have experienced a marriage, divorce, or remarriage since your plan was created. You have had children or grandchildren since your plan was created. A person named in your documents, such as a trustee, agent, or beneficiary, has died, become incapacitated, or is no longer someone you trust. You have acquired or sold significant assets. Your plan is more than five years old and has not been reviewed.
Any one of these is enough reason to schedule a review. Most updates are straightforward and far less expensive than starting from scratch.
The cost of estate planning depends on the complexity of your situation. A basic estate plan that includes a trust, will, power of attorney, and healthcare directive typically costs a few thousand dollars. More complex plans involving asset protection trusts, business succession planning, or tax strategies will cost more. The cost of not having a plan, including probate fees, family disputes, and unnecessary taxes, almost always exceeds the cost of creating one.
In most cases, yes. A will alone requires your estate to go through probate, which is a court-supervised process that takes months and costs thousands of dollars. A revocable living trust avoids probate entirely, keeps your affairs private, and gives you more control over how and when your assets are distributed. Your will still serves as a backup to catch any assets not in the trust.
A power of attorney authorizes someone to handle your financial affairs, such as paying bills and managing accounts. A healthcare directive, also called a living will, specifies your wishes regarding life-sustaining medical treatment. A healthcare power of attorney authorizes someone to make medical decisions on your behalf. Most estate plans include all three.
You can create basic documents using online templates, but estate planning involves state-specific legal requirements, tax considerations, and coordination across multiple documents that generic forms do not address. In Nevada, a will must be signed before two witnesses, and a trust must be properly funded to avoid probate. An experienced attorney ensures your documents work together and hold up under legal scrutiny.
For most families, the process takes three to four weeks from the initial consultation to signing the final documents. This includes the initial meeting, document drafting by your attorney, a review meeting, and the signing ceremony. Funding the trust and updating beneficiary designations may take additional time depending on the number of accounts, institutions, and states involved.
The hardest part of estate planning is getting started. Once you have the right information and the right attorney, the process is straightforward. The attorneys at the Law Firm of Jeffrey Burr can walk you through every step, from your initial consultation to signing your documents and funding your trust. Call our Las Vegas office or our Henderson office today to schedule a free consultation.
This page is for general informational purposes only and does not constitute legal advice. Laws change; consult a licensed Nevada attorney for advice specific to your situation.
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