Handling an estate after someone dies can feel complicated, especially when you are unsure whether you need full probate. If the estate qualifies as a small estate, you may have a simpler way to transfer certain assets. Knowing how this process works can help you determine whether it may apply to your situation.
What qualifies as a small estate?
If you are handling an estate worth less than $150,000, you may qualify for Nevada’s simplified probate procedures. The right option depends on the estate’s assets and whether it includes real property.
For example, an estate with no land or real property may qualify for an Affidavit of Entitlement, while an estate with real property may require a court process.
What options can you use?
If you qualify for Nevada’s small-estate procedures, you may have several ways to transfer the estate’s assets:
- Affidavit of entitlement: You may use this simplified option to claim certain estate assets when you meet Nevada’s requirements.
- Set-aside proceeding: You may ask the court to set aside the estate for eligible heirs or beneficiaries when the estate meets the applicable requirements.
- Summary administration: You may use this court-supervised process for an estate that qualifies under Nevada’s value and other legal requirements.
These options differ based on the assets in the estate and whether court involvement is necessary.
What should you do next?
Once you determine that a small-estate procedure may apply, gather information about the deceased person’s assets and debts. You may need to identify the property involved, determine its value and collect documents showing your right to receive the assets.
Depending on the procedure, you may then need to complete the appropriate court forms or submit a petition.
Get help with the probate process
A small estate process can simplify the steps you take after someone dies, but the right procedure depends on the estate’s assets and circumstances. If you are unsure which option applies, reviewing the requirements or seeking legal guidance can help you handle the estate correctly and avoid unnecessary delays.