Support & FAQs
What is a trust?
A trust is a legal agreement in which one person, called a trustee, holds legal title to property for the benefit of another person, called a beneficiary. The trustee has to manage the assets in the trust according to the terms of the trust agreement and the wishes of the trust's creator. You can learn more about them here.
What is an estate?
An estate is a person's total assets and property, including money, real estate, investments, and other possessions. A revocable trust is better than a will because it allows for the avoidance of probate, which can be time-consuming and expensive. Additionally, a revocable trust allows for greater control and flexibility over the distribution of assets and can provide privacy for the beneficiaries.
Why do you provide revocable living trusts and pour-over wills rather than just wills?
A revocable trust is better than a will because helps you avoid probate, which can be time-consuming and expensive. A revocable trust allows for greater control and flexibility over the distribution of assets and can provide privacy for the beneficiaries. You can learn more about this here.
Why do we only provide Nevada Revocable Living Trusts?
Establishing a Nevada RLT can be advantageous for estate planning as it avoids probate, protects assets with a no contest clause, benefits from the state's short statute of limitations, and takes advantage of the lack of income tax. You can learn more about this here.
Can I have a Nevada Revocable Living Trust if I don’t live there?
Yes, the only thing you need to have a Nevada RLT is a Nevada-based attorney, which we provide. You can learn more about that here.
Who oversees the disbursement of the assets in the trust?
The disbursement of the assets in the trust is typically overseen by a trustee, who is responsible for administering the trust and managing its assets according to the wishes of the grantor or settlor.
What’s the difference between Legado and other Estate Planning services?
We have figured out the perfect mix between a classic attorney law firm and the convenience of a digital form. If you’re looking for a DIY Estate Planning package or a full production law firm we get that. However, if you want something in between that can save your loved ones time, money, and stress Legado can help. You can learn more about that here.
How much does probate cost?
It varies state by state but ranges between 3%-10% of the estate value. On average it’s about $14,000. This is why we recommend that our clients create a trust and will rather than just a will. If you would like to calculate how much probate might cost your family, you use our savings calculator here.
Do I need to be rich to have an estate plan?
No. An estate plan can be established regardless of the size of your estate (your assets).
What are assets?
Assets are valuable things that you own such as money, a house, your car, retirement plans, pensions, and more.