The grief following the loss of a family member can be overwhelming, yet you may also have to deal with probate courts and attorneys to settle the estate. Many people are unsure what to do because making a mistake can extend their responsibilities and delay their inheritance. If you are involved in a loved one’s estate, here’s what to expect during the Nevada probate process, from a respected Las Vegas probate administration attorney.
Steps in the Probate Process in Nevada
Probate is a legal process that identifies a decedent’s assets for tax purposes and to ensure a smooth transfer of ownership to the appropriate heirs. By creating an estate plan, you can often minimize the probate process for your survivors.
To begin the probate process, a family member admits the will to probate in the probate court where the person died. They attend the initial probate hearing, where a personal representative (PR) is appointed to administer the estate. The decedent may name a PR in their will, or the court may assign one.
From there, the PR completes the process, which usually includes the following steps:
- File an inventory of the estate’s assets and liabilities, notifying creditors of the death.
- Create a tax identification number for the estate and open an estate banking account.
- Notify heirs and creditors of the death.
- Identify and pay any valid debts.
- Maintain properties and protect the estate’s value.
- Sell any assets needed to pay debts and prepare for distribution.
- File tax returns for the decedent and the estate.
- Prepare a final estate accounting for the probate court and attend the final hearing.
- Distribute assets to beneficiaries according to the decedent’s will or Nevada intestacy laws if the person left no will.
- Close the estate.
The complexity and number of assets, along with any disputes or other concerns, can impact how quickly you can complete this process. Usually, the process lasts about 6-12 months. It is essential to follow every step according to state law to reduce problems. Working with an experienced probate administration lawyer can help overcome obstacles and complete the process more quickly.
Not Every Estate Needs to Pass Through Probate Court in Nevada
If your loved one created a personalized estate plan using a will and appropriate trusts, you may be able to avoid the probate process in part or completely. For example, if they help property jointly with a spouse, that property will transfer automatically upon their death.
If they left payable-on-death designations on their bank accounts or named beneficiaries for insurance policies, these do not go through probate. If the estate has less than $100,000 in assets, it may qualify as a set aside provided the decedent had no complex assets or debts.
Get Help With Probate in Nevada
If you are dealing with an estate and want professional guidance in managing the probate process, contact a Nevada probate attorney at Simplifying Probate. We offer free consultations and decades of combined experience assisting clients just like you with these complex legal matters.