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Questions Answered by Tiffany Ballenger Floyd
1 Answer | Asked in Estate Planning and Probate for Nevada on
Q: What is the difference between being an interested person in a trust and a non interested person.
Tiffany Ballenger Floyd
Tiffany Ballenger Floyd answered on May 30, 2020

Interested "person" may be the grantor (creator) of the trust, a trustee and/or a beneficiary. Interested "trustee"- The term Interested Trustee means a Trustee who:

is a transferor or beneficiary;

is related or subordinate to a transferor or beneficiary;...
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1 Answer | Asked in Estate Planning for Nevada on
Q: In the state of Nevada, will filing a Homestead Exemption do anything if our home is in our Living Trust?

We are married and living in our primary residence which is paid off and valued ~$570K. Our house and other assets are all owned by our revocable Living Trust. We have never filed a Homestead Exemption in Nevada, but recently friends have told us we should do this to protect the equity in our home.... Read more »

Tiffany Ballenger Floyd
Tiffany Ballenger Floyd answered on Jan 21, 2020

Nevada homestead exemption protects the equity in your primary residence (w/ proper homestead filing) up to $550K- cheap & easy protection! A revocable living trust typically does not provide ANY asset protection to the creators of the trust, so it's probably wise to file your homestead.... Read more »

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