For many of us, losing a parent is the first time we are faced with what must be done after someone dies. Knowing what to do and when to do it can help ease overwhelm during an emotionally difficult time.
The Las Vegas probate attorneys at Simplifying Probate recommend taking the following steps after a parent passes away.
Contact us online to schedule a free consultation.
Immediate Matters to Take Care of When a Parent Dies
The most immediate matters to take care of are with respect to making final arrangements for your parent and notifying relevant parties of their death. It may require locating pertinent documents and following final instructions.
- Locate estate planning documents and review for funeral arrangements.
- Identify the executor (will) or trustee (if there is a trust).
- Notify an employer or anyone who regularly expects to see your loved one.
- Locate other important documents, such as insurance policies, deeds, vehicle titles, bank accounts, and investment/retirement accounts, and notify the relevant companies as appropriate.
- Initiate mail forwarding (if appropriate).
If your other parent survives, some jointly owned assets may have been transferred to the survivor automatically via a beneficiary designation (bank accounts, retirement or investment accounts) or community property with right of survivorship (real estate, vehicles).
Survivorship rights must be clearly expressed in the ownership documents, except in the case of a homestead. If community property is declared a homestead, the law presumes the property is held with survivorship rights. Upon the death of one spouse, it immediately vests in the survivor.
Matters to Handle within 30 Days Following a Parent’s Death
Locating and securing property may take longer than a week, depending on where the property is located, the size of the estate, and the involvement of other people. If the decedent had a will, it must be submitted to the appropriate district court within 30 days.
- Secure real and personal property to protect it from damage or theft.
- Identify and cancel unnecessary subscriptions and services.
- Notify government agencies, such as the Social Security Administration and the Department of Veterans Affairs.
- Submit the decedent’s will to the probate court.
- Create a written inventory of property subject to probate
- Identify outstanding debts and creditors
- Order 5-10 certified copies of the death certificate (the funeral home can usually help)
- Update the surviving parent’s estate plan as necessary
If there is no will, a petition should be filed with the court as soon as possible to initiate an intestate probate. All probate options are available with or without a will, but estate distributions must follow state intestacy laws.
If the Probate Estate is Small, Probate May Be No Problem
A general administration probate is required for estates that are valued above $500,000. The court fully supervises this type of probate. It’s longer and more complex than processes available for smaller estates and generally takes about 6 to 8 months to complete.
For estates valued under $500,000, the following alternatives are available for administering a probate estate with or without a will in Nevada:
Affidavit of Entitlement
When a decedent’s gross estate is less than $25,000 (or $150,000 for a surviving spouse), excluding vehicles, and has no real property, an affidavit of entitlement can be used to transfer the decedent’s assets without further court involvement. The affidavit must be signed before a notary, and at least 40 days must have passed since the death.
Petition to Set Aside Estate
A petition to set aside an estate without administration may be filed when the value of the estate is less than $150,000, and the estate includes real estate. A court hearing is required, and heirs and creditors must be notified, but the process is much quicker than a general probate. A waiting period of at least 30 days from the date of death applies.
Summary Administration
For estates valued between $150,000 and $500,000, a summary administration is intended to be a more streamlined probate process, though it is very similar to a general administration probate. Summary administration must be requested and approved by the court.
Consult a Nevada Probate Attorney
The administrative process used to settle a decedent’s probate estate is primarily based on the value of assets in the estate. Still, other considerations may make one method more appropriate than others, despite estate value.
Consulting a Las Vegas probate administration attorney can help you decide what works best for your situation and ensure you will comply with all legal requirements.
Call our firm at (702) 800-8354 today.