Using Trusts to Protect Assets
NRS Chapter 166, allows the creation of Spendthrift Trusts. The idea of a spendthrift trust is that money is set aside for a beneficiary that cannot be attacked by creditors.
Asset Protection & Good Insurance
At Reed & Mansfield we believe that your first line of asset protection should be adequate liability insurance. Find out more about the types of insurance you may want to consider.
House Expenses Eat Up Estate
Often, in a probate case, the Decedent’s residence has to be sold. If the mortgage on the property is large compared to the value of the house and if it takes a long time to sell the house, the bills can eat up a large part of the estate.