As anyone with any experience in estate planning will tell you, probate proceedings are a thing to be avoided at all costs.
Of course, they cannot always be avoided. Sometimes family members of a deceased individual find themselves in probate court, dealing with the associated costs and maddening bureaucracy.
These individuals will probably wish to find ways to get out of probate as quickly as possible. In the state of Nevada, unfortunately, there are not as many options for doing this as these individuals might wish.
If the estate that’s ended up in probate is sizeable, then you’re stuck in probate. However, the state of Nevada allows for certain legal shortcuts for those estates that are not especially large.
There are two categories of estates that can be considered in this manner, those that are $20,000 or less and those that are less than $200,000. We will handle them each separately.
Probate in Nevada for Estates Worth Less Than $20,000
For these estates, a simple affidavit will suffice for settling the estate and getting it out of the probate courts.
To do this, a person that believes they have a right to inherit property or assets from the dhttps://www.clearcounsel.com/services/nevada-probate/synopsis-nevada-probate-law/eceased submits a document that is signed under oath to make such a claim.
Also, not just anyone can submit such a claim.
These affidavits can only be filed by immediate family members, as well as siblings, grandchildren or parents. Finally, any assets or property that are inherited in this manner are subject to a 40-day waiting period.
Probate in Nevada for Estates Worth More Than $20,000
For estates that have more value than the above and include real estate, the executor can file a motion for a simplified probate proceeding. If the court approves, then a simplified, more expeditious probate proceeding will take place.
Also in some cases, the courts will permit that executor to divvy up the estate without the need for a probate proceeding. For estates that are valued at $100,000 or less, the probate courts may simply divide the estate’s assets between the deceased’s children and spouse.
If you find yourself dealing with an estate of this nature, it may be wise to consult an estate planning lawyer who can determine if a simplified probate proceeding is the best course of action.
We Can Make Probate in Nevada Easy for You
The best way to avoid probate all together is to have an ironclad plan for your estate. To do this, you will want to consult with a qualified estate planning attorney, experienced with probate in Nevada, like the ones in our office.
At Clear Counsel Law Group, we will be able to help you establish a last will and testament, create trusts, and pursue other options that will allow you to keep your estate out of the probate courts after your demise.
Ultimately, doing this will be to your beneficiaries’ benefit.
Not only will they not have to deal with litigation in a probate court, but they will also stand a better chance of receiving their inheritance without the government taking substantially more than its fair share through estate taxes.