Legal Question in Wills and Trusts in Nevada

Revocable Living Trust

These are very popular ways to take assets out of the probate process while still keeping the right to cancel at any time. They way a Trust works is that, like a corporation, it is a separate entity that can own property, such as a house, life insurance, bank account, brokerage account, etc. The terms of the Trust vary to create tax or protection from lawsuits, but the person creating the Trust usually continues to have the right to use the property however they wish.

A revocable living Trust usually does not REPLACE a Will. Experience and education do matter. Wills and Trusts are complicated and having access to a set of forms does not make you qualified to create a Trust that will properly do what you want. Although I urge you to educate yourself about the types of things Trusts can do to prepare your goals, I would strongly suggest that you hire an attorney to prepare the documents and to advice you as to your specific requirements