Understanding Powers Of Appointment In Nevada
A power of appointment essentially gives someone the ability to modify an estate plan. By enabling your estate plan to adapt to changing circumstances without having to rip it up and start from scratch, this power provides immense flexibility down the road.
Powers of appointment must be carefully constructed to be fully effective. A special power of appointment (SPA) trust, for example, can be a vital asset protection strategy. However, if done incorrectly, powers of appointment can have significant tax ramifications.
Additionally, these powers can readily lead to disputes — especially when questions arise regarding unauthorized estate plan modifications, or when someone ends up disinherited as a result.
Accomplished Attorneys In This Niche Area
At Solomon Dwiggins Freer & Steadman, LTD, we understand this niche area of Nevada law. Applying more than 65 years of combined experience, our attorneys can provide valuable guidance on whether a power of appointment makes sense for your situation. We also handle probate and trust disputes involving these powers.
Our legal team includes tax lawyers who can identify and address any tax issues relating to powers of appointment. Several of our attorneys are also involved in the Probate and Trust Section of the State Bar of Nevada, which means we have a uniquely in-depth perspective on the latest developments in this area of law.
As seasoned trust litigators, our attorneys understand how to:
- Interpret trust provisions
- Make a strong case for a favorable interpretation of poorly drafted provisions
- Ensure that trust language conforms to Nevada law
- Evaluate whether a better outcome is more attainable through settlement or trial
When you choose our firm, you will work directly with one of our accomplished lawyers. To get started with a confidential consultation or to find out more about our services, please call our office in Las Vegas at 702-997-7714 or 800-671-9908.