Small estates may have the right to set aside part or all of their estate. A Las Vegas set aside lawyer can help you petition the court to transfer assets without having to undergo probate. At Simplifying Probate, we are skilled at handling these types of estates and can provide you with the legal counsel you seek. Contact our Las Vegas probate attorneys today for a free consultation.
Why Choose Us at Simplifying Probate?
- Simplifying Probate helps you determine if the set aside process is right for your situation and what steps you must take if you are eligible for this process.
- Our qualified attorneys streamline this process for you so you can transfer property without delays or complications.
- We help you file the appropriate paperwork and communicate with the court on your behalf.
What Constitutes a Set Aside Estate
Set asides are used for small estates valued under $100,000 after liability deductions have been calculated. The purpose of this process is to simplify the resolution of the estate and avoid administration. With set asides, property can be transferred directly to eligible heirs with court approval. This process may be used with or without a will.
Initiating the Process for Setting Aside an Estate
If you meet the eligibility requirements to set aside property from a small estate, you must petition the court to initiate the process. It is advised that the decedent’s spouse or child file for the set aside.
This process can be started at least 30 days following the decedent’s death. Documentation such as a death certificate and a copy of a will must be submitted along with a detailed inventory and valuation of the estate’s assets and debts.
Once all of the documents and forms have been completed and filed with the court, heirs, devisees, creditors, and Medicaid Estate Recovery (MER) must be notified. These parties have the right to respond and object to the petition before the hearing. The court will issue a decision after it has reviewed all applicable information.
While assets are generally used to settle debts first during probate, a judge may disregard creditors and rule that an entire estate may be set aside for the decedent’s spouse and child instead.
What Assets are Eligible for a Set Aside in Nevada?
Certain assets are eligible to be set aside during this process. As long as the value of the estate minus liabilities remains below the $100,000 threshold, then these assets may go directly to the decedent’s entitled heirs. Some assets that are commonly transferred in a Nevada set aside estate include:
- Bank account funds
- Investment funds and stocks
- Vehicles
- Real estate holdings
- Personal property
Contact Our Las Vegas Set Aside Probate Attorneys Today
Simplifying Probate is your go-to resource when you need to set aside property from the estate. We take the time to answer your questions and guide you through the process so you receive what you are entitled to from the estate. Contact our firm today at (702) 800-8354 to schedule a free consultation and start the set aside process.