Most adults need five core documents: a will, a revocable living trust, a financial power of attorney, a health care power of attorney, and an advance directive. Together they cover who inherits, who decides, and what happens if you can’t.
You don’t need to be wealthy or old to need them — you need to own something, love someone, or want a say in your own care. At Discount Lawyers, a will plus a family trust is a flat $1,399.
Estate planning sounds like something you do once you’re rich or retired. In reality, it’s a set of instructions for the people you’d leave behind — and most adults need the same five documents. Here’s what each one does, in plain English.
1. A last will and testament
Your will says who inherits what, and — the part people forget — names a guardian for your minor children. Only a will can do that. Without one, Nevada’s intestacy laws decide who gets your property, and a court decides who raises your kids.
2. A revocable living trust
A trust holds your home and accounts so they pass to your family without probate — Nevada’s public court process that can take 12 to 18 months and cost thousands. You stay in full control while you’re alive; the successor trustee you name steps in only when needed.
3. A durable (financial) power of attorney
This names someone to handle your money — bills, accounts, property — if you’re incapacitated and can’t do it yourself. “Durable” means it stays in effect even after you lose capacity, which is exactly when you need it. Without one, your family may have to go to court for guardianship just to pay your mortgage.
4. A health care power of attorney
This names the person who makes medical decisions for you if you can’t speak for yourself. It isn’t about money — it’s about who the doctors listen to. Choose someone who will actually honor your wishes, not just the nearest relative.
5. An advance directive (living will)
This is where you write down what care you do and don’t want at the end of life — so the decision isn’t left to a frightened family guessing in a hospital hallway. It takes the hardest choices off the people you love.
Being straight with you: not everyone needs all five today. A single 25-year-old renter may only need a will and the two powers of attorney. But the moment you own a home or have a child, the rest of the list gets real. We’ll tell you which ones you actually need — not sell you a binder you don’t.
What does it cost to set these up?
At Discount Lawyers, a will and a revocable family trust together are a flat $1,399, prepared by a licensed Nevada attorney, with Affirm financing if you’d rather pay monthly. The powers of attorney and advance directive can be added to round out the plan, and you’ll get the full number in writing before you commit. New to all this? Start with what a trust is and why you’d want one.
The best time to set these up is before anyone needs them. The second-best time is today.
Common questions
Do I need a trust, or is a will enough?
It depends on your life. A simple will may be enough if you’re young and renting, but once you own a home, a trust usually earns its keep by keeping your family out of probate. Nevada has no state estate or inheritance tax, so for most people this is about avoiding court, not taxes.
What’s the difference between a financial and a health care power of attorney?
A financial (durable) power of attorney lets someone manage your money and property if you’re incapacitated. A health care power of attorney lets someone make medical decisions for you. Most adults need both, because they cover different emergencies.
Do I have to be wealthy to need estate planning?
No. If you own anything or have people who depend on you, you have an estate worth planning. The five core documents protect your family, your money, and your medical wishes regardless of net worth.