Nevada Probate with Evans & Associates
Probate is a process by which the Court supervises the handling and distribution of an estate. Typically a probate must be filed in the state where the decedent resided at the time of death and also may be required in other states where the decedent owned real property. The probate process is needed for in three typical situations: (1) people who pass away “intestate” (i.e. without a will or trust); (2) people who have a will, but no trust and (3) people who have a trust but failed to title assets in the trust name or with a beneficiary. The assets titled in the decedent’s name alone may need to be probated. Furthermore, even if there is a trust and certain assets are not properly funded to the trust, the probate process will allow those assets to be titled in the trust name after the probate process is completed. During this process, the Court will appoint an Administrator/Executor to handle marshalling the decedent’s assets, handle creditor claims and oversee the distribution of assets at the conclusion of the probate process. This process can be confusing, expensive and take significant time to complete, especially after losing a loved one. Our office can assist in helping to ease this burden for you during this emotional time, make sure the process goes as smoothly as possible and making sure that all of the documents necessary are done correctly. We are dedicated to making sure that the probate is completed in as short a time as possible.
Real estate in other states may require a separate “ancillary” probate if the property is titled in the decedent’s name. Real Estate that is titled in the decedent’s name cannot be sold until a probate is opened and the property is either sold during the probate process or after the probate is completed and transferred to the beneficiary(ies).
Nevada has numerous types of probates and generally they are as follows:
1) Affidavits of Entitlement (assets, except real property with a value under $25,000 for single people and $100,000 when 1 spouse dies).
2) Set Aside Probates are for assets with a net value under $100,000. This type of probate typically takes approximately 2 to 3 weeks to complete. There can be no creditors.
3) Summary Administration Probates are for assets with a net value over $100,000, but under $300,000 and takes approximately 3 to 4 months to complete.
4) Full Probates are for assets with a net value over $300,000. This probate requires a longer process and will last approximately 4 to 5 months.
If you die without a will (i.e. intestate), the Nevada Revised Statutes set forth the beneficiaries for your estate, as opposed to your personal choices. (Nevada Revised Statutes, Chapter 134)
If you want to avoid probate for your own estate, or have a relative who has passed away with an estate subject to probate, the following information checklist may prove helpful. We have not provided the actual legal forms because the content may vary depending on your specific facts.
For a complete probate checklist, click here.
For a list of the types of probates, click here.
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