Comprehensive Legal Services in Minden, NV
At Heritage Law Group, P.C., we assist clients with a number of legal issues, including asset protection, wills & trusts and more. Regardless of the service, our team is dedicated to putting our clients first and setting them up for success.
Some of the Legal Services We Provide
Asset protection is an area of law that entails protecting assets of individual people and businesses from future creditors, claims and lawsuits. Almost everyone can benefit from some level of asset protection, not just business owners or high-risk individuals. Planning in advance will help protect your assets during and after your lifetime. Our team can help you avoid the loss or waste of an asset, preserve the asset for your legacy and assist you in accessing valuable and needed resources for your care.
An ideal time to plan asset protection is when things are calm and there are no known claims. However, there are no guarantees in asset protection planning. Our firm has expertise in arranging finances, real property and other assets in a manner that minimizes a client’s exposure to potential creditors. We have the skills and knowledge to help our clients achieve the highest level of confidence and security for your assets.
Levels of Asset Protection
Your first line of asset protection is provided by Nevada’s statutory law. With some limitations, the following are typically protected by law: the equity in your home, your car, retirement accounts, your take-home pay and other smaller assets. Law, however, only protects assets during life and will not provide protection against collection after your passing.
Insurance is the next line of defense and is a relatively inexpensive option to protect you from a claim. Common insurance policies include: medical, long-term care, disability, auto, home, renter’s and an umbrella policy.
Entities such are corporations and LLCs are a must for business owners. Entities provide asset protection and can prove beneficial under the tax code. They protect what’s outside from the activity within the business and vice versa.
Irrevocable Nevada Trusts
Nevada is one of best states for asset protection trusts, which can be self-settled or for the benefit of a third party. Assets owned by a properly structured trust are usually not subject to claims against their beneficiaries. They are a great tool for protecting your assets.
Whether you’re starting a business, need consistent support or are ready to hand off your business to the next generation, Heritage Law Group can help. We are here to assist you through every stage of your business.
Starting a new business is an exciting adventure but comes with a high risk of failure. During this phase, the best investment a business owner can make is a well-crafted plan. Our goal is help our clients succeed in their business ventures by carefully planning to minimize risk and increase the likelihood of success. We can help you select the right business entity, protect your assets and craft proper management, operating and employment agreements.
When your business is up and running, it’s easy to become sidetracked from completing the important legal and regulatory requirements of your operation. A major key to your success is ensuring that your business has the ongoing support it needs. At Heritage Law Group, we can provide this support through assistance with: drafting agreements, contracts and leases, enforcing contractual rights, maintaining corporate records, enforcing security interest, prosecuting and defending litigation and breach of contract disputes, and much more.
Successfully passing a business from one owner to another, or from one generation to the next, is an important step in ensuring that you, your clients, and your employees are well served. This step involves serious risks that must be addressed. If you’re contemplating selling or purchasing a business, our team will help by: structuring the transaction, negotiating terms of your behalf, drafting the requisite documents and determining what review and due diligence must be completed to validate the representations of the other party.
It takes a strong and dedicated team to successfully build and maintain a business. Heritage Law Group is happy to work with your existing team members, from employees to financial advisors, to make sure your endeavor is a success.
Elder law includes many areas of law that relate to caring for clients who are aging and declining in health. Planning early for long-term care results in more available options and a better outcome overall. If it’s still an option, obtaining some form of long-term coverage will give you peace of mind. Long-term care can be self-funded, family-funded, insurance-funded or government-funded. Our attorneys will help you understand all of your options and select the best one for your needs.
Medicaid often serves as the final option for those who have no other way to finance their long-term care. Although eligibility rules vary by state, federal minimum standards and guidelines must be observed. Heritage Law Group can help you navigate the complicated Medicaid landscape and avoid any financial setbacks associated with the high cost of long-term care.
Guardianship is a court process where one person (the Guardian) is appointed to manage all financial, personal and healthcare decisions for someone else (the Ward), who is incompetent due to a physical or mental disability. Three major types of guardianships include:
Guardianship of the Estate
This guardianship allows a Guardian to take inventory of the Ward’s assets, obtain correct property values, safeguard property and assets from loss, manage income and payments, obtain court approval prior to selling a major asset and filing tax returns.
Guardianship of a Person
Guardianship of the person grants authority over the personal and health care matters of the Ward. The Guardian is responsible for providing consent for and supervising medical and non-medical treatment, making end-of-life decisions, deciding where the Ward lives and maintaining their residence, meeting the Ward’s social needs and ensuring the Ward enjoys as much independence as possible.
Guardianship of a Minor
Guardianships are also used to protect the legal rights of a minor and when a parent is no longer able to act on behalf of their child. Guardianship should be considered if a parent cannot provide shelter, doesn’t have a steady income, is suffering from a serious illness or is incarcerated. Unlike an adoption, under a guardianship, parents may remain responsible for supporting the child financially and do not necessarily forfeit their parental rights.
Probate is the court-supervised process of passing a decedent’s assets to his or her heirs. Heritage Law Group works with executors and personal representatives to establish probate, collect and value assets, notify creditors, liquidate and manage assets and pay liabilities and distribute to the heirs. We will guide and assist you through every step of the process. Our team is also equipped to help you with executor representation, beneficiary representation or avoid probate altogether.
Wills and trusts are estate planning tools that can be simple and complex. A will must be witnessed by two parties when executed while a trust does not require two witnesses. The challenging part about a will is that, to be effected, it must be probated. On the other hand, a trust does not need to be probated and provides incapacity planning. Any client who completes a trust or a will should also obtain powers-of-attorney for both medical and financial matters. This measure empowers your loved ones in the event that anything happens to you.