The probate process typically occurs during a time when family members are mourning the death of a loved one. When choosing a personal representative (executor) to administer their estate after they’re gone, it’s important for people to choose someone who can think clearly and focus on the job at hand even if they’re grieving.
Unfortunately, until recently, Nevada probate law allowed those not chosen by the deceased or even connected to them in any way to take control of their estate and act with little oversight by the court after they were selected. Some people were selling decedents’ homes for their own financial gain. Sometimes, control of the estate was taken away from the family without their knowledge.
The previous loopholes in the law
The issue came to the attention of the public and Nevada lawmakers after a newspaper investigation. Under the previous law, while family members were first in line to manage probate for an estate, anyone who was deemed “legally qualified” could be chosen if the court couldn’t find someone closer to the deceased to do it.
That was a low bar that included disqualifying factors like “lack of integrity,” conflict of interest, felony convictions and “drunkenness.” The law was changed last October to put safeguards in place to prevent this.
What does the new law require?
Under the new law, for someone with no connection to the deceased to take control of probate, they have to get a “finding of good cause” that “must be based on evidence.” Further, they must provide an affidavit that they have made serious attempts to find a living heir.
The change to the law can help protect the assets of those who don’t have an estate plan in place when they die and aren’t survived by close family. However, the best way for Nevada residents to protect their assets after they’re gone is to create an estate plan and name a trusted executor as well as at least one alternate.
An executor doesn’t have to be a relative. It can be a close, responsible friend. There are professional fiduciaries as well, who are typically affiliated with financial institutions and trust companies. By having experienced estate planning guidance, Nevada residents can help ensure that their estate is handled according to their wishes.