What We Do In Preparing Probates

I want to invite you into a room in my office that very few people get to visit. It is one of the most important areas, my library. This is ...my knowledge base and where I go to find answers to legal questions as well as any tax and accounting questions.

Hello folks and welcome back to another episode of Legal Concepts Revealed. I'm Kirk Kaplan with Crest Key Legal and Accounting, and in during this episode I will discuss how we prepare for the probate process. As you will see it is much more than filing forms and appearing in court.

Many people do not realize but probates involve accounting and tax elections. Something to look at is how to allocate deductions between the deceased estate income tax return, and potentially allocating those expenses on the estate's income tax return.

An example of this type of probate is a Canadian citizen to recently passed. This person owned property in Las Vegas and I am assisting this family with the proper tax elections which in turn can effect their tax situation in Canada.

This is when I refer to theThe Tax Advisor's Guide to the Canada - U.S. Tax Treaty, as it guides me when I'm thinking about whether I'm going to have an election under the tax treaty, or if we're gonna be filing the deceased last tax return here.

If you haven't done your proper estate planning, we're not only doing pleadings with the court, but we also want to make proper tax elections in those pleadings and petitions so that we get proper court orders. What is special about Crest Key Legal and Accounting is that we can do all of these things under one roof. We can work on the probate process as well as file the appropriate taxes.

We guide you through the tax elections, through the court system, and ultimately, what needs to be reported to the Internal Revenue Service. That's our strength at Crest Key Legal and Accounting, everything is done under one roof.

Many probate attorneys do not have the knowledge of taxes and accounting like we do. They simply know how to file the probate with the court system. Then you must rely upon an accountant that doesn't understand Nevada statutes in regards to the accounting rules that you have to report in the probate.

We have the understanding of the law required for the probate pleadings, then we can enact and issue accountings under the Nevada revised statutes required under the probate. We will then use those accountings to properly prepare the estate's income tax return, and reportings to the heirs.

We combine everything, so that everything works from beginning to end, that all the heirs, have no questions on what happened. I hope you found this information useful. For more information visit our probate administration page here: https://crestkey.com/personal-law-services/probate-administration/
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Community Property and Vesting on Real Property in the Las Vegas Valley

How you take title on your Real Property effects the tax benefits and rights of survivorship. Dave of The Radcliffe Group and Kirk D. Kaplan. Esq., CPA share the ...options of protecting your home after the sale. Kirk knows the tips and tools to help you in protecting your home. Check out our video and contacts us with any questions you may have.
Dave Radcliffe, CFAC, CDPE
The Radcliffe Group
Keller Williams Realty Southwest
Cellular 702-379-3401
Secure E-Fax 702-543-5903
[email protected]
http://daveradcliffevegas.com/
http://www.facebook.com/VegasLuxuryRealEstate
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Probate - What happens when someone dies without a Will.

A significant mis belief exists when someone dies without a Last Will and Testament that the state in which the deceased died will receive the deceased's property. For 99.99% ...of all people who die without a Last Will and Testament, the deceased's property WILL NOT GO TO A STATE OF THE UNION. On the office chance a state receives anything is because the deceased did not have any heirs (those individuals such as spouses, children, grandchildren, siblings, and nieces and nephews). When property goes to the to a state, it is known as escheat.

Nevada and all 50 other states of the Union have a statutory scheme designating who in line will take when and how much by share. Nevada has such statutory scheme called Succession and is located in Chapter 134 of the Nevada Revised Statutes. Other states may call their statutes intestacy (meaning dying without a will who will take). These statutes arise out of public policy believing that people do not intentionally disinherit family. This prevents or mitigates unintentional impoverishment and causing people to seek state assistance.

While NRS Chapter 134 exists to protect families in Nevada and thus possibly eliminate the need to have a will created, the Chapter may provide for someone you do not want to receive property after you die. If that is so, then consideration should be given to creates a Last Will and Testament, or created a Revocable Living Trust, or other transfer method to direct your property to whomever you desire.

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About our Law Firm:

Crest Key Legal and Accounting is a law and accounting firm focusing personal, business, and international matters in Las Vegas Nevada.

Our firm takes a caring approach, and we are very much focused on improving the lives of everyone who walks through our doors. Our goal is to be your personal advisor, your business enabler, and your international envoy. Acting as a live connection to your interests locally or abroad, connect you to effective strategies for positive outcomes and work diligently to solve your problems.

Our approach is to build awareness of your individual situation by spending time with you and the asking questions relevant to your specific needs and desired outcome. Let us be your first advisor.
Through thoughtful dialogue it is our goal to help build awareness of your situation by understanding your circumstances, concerns, specific needs, and desired outcomes.

We are your FIRST ADVISOR – What does that mean? We pride ourselves on enabling business success by providing advice on business structures, maintenance, and planning. We are tax professionals who have been dealing with taxation matters, including tax controversies, for more than 20 years. Our work with businesses is a forward-looking approach to create evolutionary change for our clients.

Our Practice areas include:
Estate Planning
Probate Administration
Trust Planning
Trust Administration
Healthcare Directives
Revocable Trusts
Fiduciary accounting
Tax Preparation & Tax Planning Read More Great Articles @ https://www.crestkey.com/blog/
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Trust Administration - Duties of a Trustee.

___________________________________________________________________________
About our Law Firm:

Crest Key Legal and Accounting is a law and accounting firm focusing personal, business, and international matters in Las Vegas Nevada.

Our firm takes a caring ...
approach, and we are very much focused on improving the lives of everyone who walks through our doors. Our goal is to be your personal advisor, your business enabler, and your international envoy. Acting as a live connection to your interests locally or abroad, connect you to effective strategies for positive outcomes and work diligently to solve your problems.

Our approach is to build awareness of your individual situation by spending time with you and the asking questions relevant to your specific needs and desired outcome. Let us be your first advisor.
Through thoughtful dialogue it is our goal to help build awareness of your situation by understanding your circumstances, concerns, specific needs, and desired outcomes.

We are your FIRST ADVISOR – What does that mean? We pride ourselves on enabling business success by providing advice on business structures, maintenance, and planning. We are tax professionals who have been dealing with taxation matters, including tax controversies, for more than 20 years. Our work with businesses is a forward-looking approach to create evolutionary change for our clients.

Our Practice areas include:
Estate Planning
Probate Administration
Trust Planning
Trust Administration
Healthcare Directives
Revocable Trusts
Fiduciary accounting
Tax Preparation & Tax Planning Read More Great Articles @ https://www.crestkey.com/blog/
[+] Show More

Estate Planning - Your Life Your Say, Healthcare Proxy

___________________________________________________________________________
About our Law Firm:

Crest Key Legal and Accounting is a law and accounting firm focusing personal, business, and international matters in Las Vegas Nevada.

Our firm takes a caring ...
approach, and we are very much focused on improving the lives of everyone who walks through our doors. Our goal is to be your personal advisor, your business enabler, and your international envoy. Acting as a live connection to your interests locally or abroad, connect you to effective strategies for positive outcomes and work diligently to solve your problems.

Our approach is to build awareness of your individual situation by spending time with you and the asking questions relevant to your specific needs and desired outcome. Let us be your first advisor.
Through thoughtful dialogue it is our goal to help build awareness of your situation by understanding your circumstances, concerns, specific needs, and desired outcomes.

We are your FIRST ADVISOR – What does that mean? We pride ourselves on enabling business success by providing advice on business structures, maintenance, and planning. We are tax professionals who have been dealing with taxation matters, including tax controversies, for more than 20 years. Our work with businesses is a forward-looking approach to create evolutionary change for our clients.

Our Practice areas include:
Estate Planning
Probate Administration
Trust Planning
Trust Administration
Healthcare Directives
Revocable Trusts
Fiduciary accounting
Tax Preparation & Tax Planning Read More Great Articles @ https://www.crestkey.com/blog/
[+] Show More

Friday Probate Reports - EP 8 ver 1 cont of Aug 21 2020

___________________________________________________________________________
About our Law Firm:

Crest Key Legal and Accounting is a law and accounting firm focusing personal, business, and international matters in Las Vegas Nevada.

Our firm takes a caring ...
approach, and we are very much focused on improving the lives of everyone who walks through our doors. Our goal is to be your personal advisor, your business enabler, and your international envoy. Acting as a live connection to your interests locally or abroad, connect you to effective strategies for positive outcomes and work diligently to solve your problems.

Our approach is to build awareness of your individual situation by spending time with you and the asking questions relevant to your specific needs and desired outcome. Let us be your first advisor.
Through thoughtful dialogue it is our goal to help build awareness of your situation by understanding your circumstances, concerns, specific needs, and desired outcomes.

We are your FIRST ADVISOR – What does that mean? We pride ourselves on enabling business success by providing advice on business structures, maintenance, and planning. We are tax professionals who have been dealing with taxation matters, including tax controversies, for more than 20 years. Our work with businesses is a forward-looking approach to create evolutionary change for our clients.

Our Practice areas include:
Estate Planning
Probate Administration
Trust Planning
Trust Administration
Healthcare Directives
Revocable Trusts
Fiduciary accounting
Tax Preparation & Tax Planning Read More Great Articles @ https://www.crestkey.com/blog/
[+] Show More

Estate Planning - How much can I give away without paying taxes ~ Installment #019

_________________________________________________________________________________________________
About our Law Firm:
Crest Key Legal and Accounting is a law and accounting firm focusing personal, business, and international matters in Las Vegas Nevada.
Our firm takes a caring ...
approach, and we are very much focused on improving the lives of everyone who walks through our doors. Our goal is to be your personal advisor, your business enabler, and your international envoy. Acting as a live connection to your interests locally or abroad, connect you to effective strategies for positive outcomes and work diligently to solve your problems.
Our approach is to build awareness of your individual situation by spending time with you and the asking questions relevant to your specific needs and desired outcome. Let us be your first advisor.
Through thoughtful dialogue it is our goal to help build awareness of your situation by understanding your circumstances, concerns, specific needs, and desired outcomes.
We are your FIRST ADVISOR – What does that mean? We pride ourselves on enabling business success by providing advice on business structures, maintenance, and planning. We are tax professionals who have been dealing with taxation matters, including tax controversies, for more than 20 years. Our work with businesses is a forward-looking approach to create evolutionary change for our clients.
Our Practice areas include:
Estate Planning
Probate Administration
Trust Planning
Trust Administration
Healthcare Directives
Revocable Trusts
Fiduciary accounting
Tax Preparation & Tax Planning Read More Great Articles @ https://www.crestkey.com/blog/
[+] Show More

Ways to convey property after death ~ Legal Concepts ~ REVEALED!

Considerations when planning your estate. Kirk Kaplan introduces some thoughts for your consideration in this installment of Legal Concepts ~ REVEALED!

A CREST KEY LEGAL AND ACCOUNTING PRESENTATION

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