Settling a loved one’s estate is an emotional and stressful process that can take months or years to resolve. An experienced Las Vegas probate lawyer can streamline the legal proceedings and provide compassionate support. Simplifying Probate can help you execute the decedent’s wishes or navigate the challenges associated with contested or intestate estates. Contact us today to schedule a free consultation with one of our experienced Las Vegas probate lawyers.
Why Choose Us at Simplifying Probate?
- We streamline the probate process to reduce your stress, and resolve and close the decedent’s estate faster.
- Our team treats all our clients with compassion and respect while providing exceptional services that help you secure your inheritance and gain closure.
- Simplifying Probate has extensive experience and a proven track record of success settling estates of all different sizes and circumstances.
- We handle logistics and communication in your case, so you can be confident that all legal requirements are completed accurately to secure the most favorable outcome.
How the Nevada Probate Process Works
When an individual dies, their property, debts, and assets must be settled in a process known as probate. This is a very specific legal process under the court’s purview that ensures debts are paid off and property and assets are distributed to the correct beneficiaries. These actions often require an executor and/or lawyer to open and oversee the decedent’s affairs.
To open probate and administration of estates, you must file a verified petition with the district court clerk that sets forth:
- Facts supporting jurisdiction in Nevada.
- Whether there is a will and whether the named personal representative, if any, consents to serve.
- Names and addresses of the heirs and beneficiaries of a will (if applicable).
- Relationship between the decedent and each heir or beneficiary.
- Character and estimated value of the estate property.
- Name and address of the person requesting appointment as personal representative of the estate and whether that person has been convicted of a felony.
- The basis for admitting a will into probate.
In general, probate may take 10-12 months to resolve, but it may take longer if the will or estate is contested or other obstacles arise. However, our simplified process helps expedite this probate process to allow the administration to be completed as quickly as possible.
In Nevada, there are generally four ways that the probate process can be formally administered:
A general administration is a full probate process where a person is appointed to administer the statutorily required estate matters. A general administration is required when the net value of the estate exceeds $300,000. As part of the general administration, the appointed personal representative must publish a notice to creditors and the creditor period lasts 90 days from the first day of publication. As part of this administration, the personal representative may seek to administer the estate under the Independent Administration of Estates Act, which enables a personal representative to take many actions as to estate assets without court order, approval, or ratification.
A summary administration is allowed when the net value of the estate is less than $300,000. A summary administration is similar to a general administration except certain proceedings and notice requirements are waived. With a summary administration, the creditor period is only 60 days. Administration under the Independent Administration of Estates Act may be sought under a summary administration.
A special administration is generally allowed if an urgent need exists to expeditiously appoint an administrator, the assets of the estate are unknown, or temporary appointment is required to protect an estate asset in the interim until a formal general or summary administration can be opened. A special administrator can be appointed without a hearing or without notice to other parties as the court deems reasonable. The special administration terminates when 1) the administrator provides a final account to the court and closes the special administration; or 2) when Letters Testamentary or Letters of Administration are granted (meaning a summary or general administration has been opened) the special administrator’s powers automatically cease.
Contesting a Will
Heirs or beneficiaries may contest a will during probate to challenge its validity, its execution, the decedent’s capacity at the time the will was created, or undue influence on the decedent. To contest a will, a party must be an interested person in the estate.
A contest to a will must generally be submitted in writing before probate, and all other heirs and beneficiaries must be notified. In some instances, a will can also be contested within three months of probate. To resolve a contested will, a trial before a judge and jury must be initiated to verify the validity of the will and the contest. Testimony and evidence must be provided before a judgment is issued.
Resolving an Estate Without a Will in Nevada
Estates without valid wills are subject to Nevada’s intestate laws. The court decides how property and assets should be distributed to surviving family members based on the hierarchy of surviving relationships.
Assets from the estate are typically for the benefit of the decedent’s spouse and child. If there is no surviving spouse or child, the estate passes to the decedent’s parents, followed by siblings if there are no living parents. Next of kin are only eligible if no other immediate family members are present. The property reverts to the state if there is no eligible family to claim the estate.
A qualified lawyer can guide you through the legal process and advocate for fair treatment in these situations. They will also ensure that the required paperwork is completed accurately and submitted in a timely manner.
Responsibilities of the Personal Representative for the Estate
Personal representatives are obligated to oversee the settling of an estate. The decedent may name an executor in their will, or the court may appoint an administrator for intestate estates. This person is responsible for opening probate, creating an inventory and appraisal of all assets, overseeing finances, settling debts, and distributing assets before finally closing the estate. This person will also submit the estate’s inventory and other documentation to the court periodically for their review and approval.
A probate lawyer can provide guidance and help streamline this process. With their experience, they can help executors and administrators make sure that documentation is submitted correctly, that inventories and documentation are accurate, and that legal challenges are properly handled.
Preparing for Federal Estate Taxes
Nevada does not impose estate or inheritance taxes, but a federal estate tax may still apply. The Internal Revenue Service (IRS) bases estate taxes on the net, taxable amount of your estate. Values are determined based on the fair market value of the assets. After deductions and other applicable calculations, estates that exceed $13,990,000 ($27,980,000 for married couples) will be taxed. All estates valued below these estate tax exemption thresholds are not subject to taxation.
For taxable estates, different tax rates apply to different value ranges above the threshold. Taxable amounts can range from the threshold itself to more than a million dollars, and the tax rate can range from 18%-40%.
The thresholds and tax rates for estate taxes change annually, so it is important to refer to IRS guidelines. You should also talk to a lawyer and accountant to determine how much tax will be paid out of the estate and its implications on the rest of the decedent’s debts and assets.
Contact a Las Vegas Probate Lawyer Today
Partner with Simplifying Probate to settle your loved one’s estate. We are equipped to execute the decedent’s will, resolve contested estates, and navigate Nevada’s intestacy laws when no will exists. We advocate for you and your loved one so that your rights are protected. Take the first step and contact us at (702) 800-8354 to schedule a free consultation today.