Not all estates have to go through a formal probate process when someone dies. Probate in Nevada can be a lengthy and sometimes costly way to transfer property to heirs. For qualifying smaller estates, Nevada law authorizes a decedent’s heirs to complete an affidavit and use it to prove entitlement to the decedent’s property.
Executing a small estate affidavit to settle an estate doesn’t require court supervision or need to be filed with the court. However, the affiant who is less than honest or fails to follow the rules can be held civilly and/or criminally liable for transgressions.
Qualifications for Using a Small Estate Affidavit (Affidavit of Entitlement)
The Nevada Revised Statutes (NRS) 146.080 allow a person who has the right to succeed to the property of a decedent, pursuant to a valid will or the state’s intestacy laws if no will, to execute an affidavit giving the affiant the right to receive the decedent’s property. The small estate affidavit form is generally known as an Affidavit of Entitlement in Nevada.
The following requirements must be met to execute a valid affidavit of entitlement.
- No home or other real property in the estate
- Estate value under $25,000 ($150,000 if the affiant is a surviving spouse or registered partner), exclusive of vehicles
- At least 40 days have passed since the decedent’s death
- Probate has not been filed
- All decedent’s debts have been paid or provided for
- At least 14 days have passed since written notice was given to all other persons with equal or superior rights to receive the decedent’s property
- No knowledge of existing civil claims against the decedent
The last thing the affiant must acknowledge before signing the document is the awareness that making a false affidavit is a felony in Nevada. The document must be signed in the presence of a notary public.
What an Affidavit of Entitlement Lets You Do
State law requires that the holders of money or property, or the evidence of ownership, transfer the assets to a person who presents them with proof of the death of the decedent and what appears to be a property executed affidavit of entitlement.
Compliance with an affidavit of entitlement is not a problem most of the time because persons who rely on it in good faith and release a decedent’s assets are immune from civil liability if it later turns out that the affidavit was fraudulent.
When You Might Have to Get a Court Order to Transfer Property
If an affidavit of entitlement is not honored when presented, the affiant can file a petition with the court to obtain an order directing the transfer of the property. A court order may also be necessary to facilitate the transfer of property, such as stocks and bonds, where the property is under another state’s jurisdiction.
The Ex Parte Petition for Order Directing Transfer of Property, along with supporting documentation, should be filed at the district court in the county where the decedent last resided. There usually won’t be any hearing scheduled unless objections to granting the order are filed. Obtaining the order can take up to a few weeks.
Simplifying Probate® Can Help Settle Small Estates
The experienced probate attorneys at Simplifying Probate in Las Vegas are on a mission to ease the burden on grieving Nevada families by making the probate process as quick and painless as possible. Contact Simplifying Probate for a free consultation.