What is Probate?

Probate is the legal process by which a court supervises the orderly and proper distribution of a deceased person's assets to his or her creditors, heirs, and beneficiaries.  If a will exists and is valid, assets are distributed accordingly. If no will was left, assets are distributed pursuant to state statute. There are also different types of administration required depending upon the size of the estate. Therefore, it is important for heirs to familiarize themselves with the rules and procedures of probate.   As with other important legal matters, it is suggested that you seek out a competent attorney to assist you with the probate.

What type of Administration is required in Nevada?

 An estate may or may not need administration to be settled, depending on the estate's size:

• Estates below $20,000 need only file an Affidavit of Entitlement
• Estates below $100,000 may be set aside without complex administration.
• Estates of greater than $100,000 and not exceeding $200,000 require an abbreviated summary administration.
• Estates above $200,000 require a full administration.

What steps do I need to take?

The following steps are recommended upon a loved one's death:

 1. Locate the will or other estate planning documents

 2. Contact an attorney to open probate as soon as possible in order to protect and secure the deceased's assets.

 3. Obtain the Death Certificate, as well as additional copies which will be used to collect insurance, transfer joint tenancies, etc.

 4. If a will exists:

Contact the executor named in the will.  Under Nevada law, the person in possession of the will must, within 30 days of the death,  file it with the county clerk or deliver it to the executor, who must then file the will with the county clerk. The executor need not be a Nevada resident.

 5. If no will exists:

An Administrator should be nominated by the heirs, and then approved by the Court. An Administrator may be a bank trust department, public administrator, friend, relative, or an attorney.  In addition, the Administrator must be 18 years or older, and a Nevada resident.

 6. The named Executor/nominated Administrator should then:

(A) Inventory and secure all assets.
(B) Determine debts owed and identity of known creditors

Do all assets have to be probated?

No.  There are certain assets which are not subject to probate, such as:

• Assets held in Joint Tenancy
• Assets held in a Trust
• Life insurance
• Pension benefits, IRA's

How much in probate fees can I expect to pay?

In Nevada, the Executor/Administrator and the Attorney negotiate the probate fee, which are usually based on a small percentage of the estate.  In some instances the fee may be based on a per hour basis.

What are the pros and cons of probate?

The advantages of probate include court supervision and the protection from theft or misuse.  The disadvantages include the delay, inconvenience, and costs.

How should I choose an Attorney?

Just as it is important to select a heart doctor to perform heart surgery, it is important to select an attorney who primarily practices in estate planning and probate.  An attorney belonging to the Southern Nevada Estate Planning Council would be a safe selection. Remember, you are not required to hire the attorney who prepared the will.