How does probate work in Nevada?

Probate is the legal process through which the courts administer and distribute a person’s estate after they pass away.

When someone dies without a will, the courts supervise the process and distribute the person’s assets according to Nevada law. If the person who dies leaves a valid will, the assets are distributed to the beneficiaries after paying off any debts and taxes.

In Nevada, probate is generally required if the deceased individual owns $25,000 or more in assets solely in their name. There are some exceptions for smaller estates.

Steps in the probate process

To begin the probate process, an interested party, usually a family member or the estate’s executor:

1. Files a petition with the probate court where the deceased person lived. This petition begins the probate process.
2. If the deceased did not name an executor in the will, the court appoints someone to administer and manage the estate.
3. If the deceased left a will, the court must validate it, proving that it is legally binding and properly executed.
4. After the will is validated and the court appoints someone to oversee the process, this person is responsible for notifying all known creditors and beneficiaries of the probate proceedings.
5. The person responsible for supervising the probate process, whether an executor named by the deceased or an administrator appointed by the court, must inventory and appraise all of the assets and file this inventory with the court.
6. The executor or administrator must pay all valid creditor claims, funeral expenses and taxes.
7. The executor or administrator can distribute the remaining assets to the beneficiaries according to the terms of the will or Nevada’s intestacy laws if there is no will.
8. The executor or administrator must secure the court’s approval before distributing the assets.

For smaller estates

Estates valued at $100,000 or less may qualify for a summary administration, which is faster and less costly than the traditional probate process.

Estates valued at $25,000 or less can be settled through an affidavit procedure and may not require formal probate. This is also the case if the sole beneficiary is a surviving spouse and the estate is worth $100,000 or less.

The probate process in Nevada can be complex, time-consuming and expensive. Understanding the steps involved and seeking professional help from an attorney is critical to ensuring the process is handled correctly.