Do I Need to Probate a Will in Nevada Court?
Not every single last will and testament has to go through Nevada probate court. If you do not have a lot of property to bequeath to your heirs, the Nevada Revised Statutes offer certain provisions for small estates to be transferred without the complexities of the full probate court process.
The small estate affidavit in Nevada allows survivors to claim simple ownership of assets that are not motor vehicles or real estate as long as the gross value of the estate is less than $25,000. The statute in question is 146.080, but it also provisions a waiting period of 40 days; this means that other parties may step forward and contest the will, thereby triggering a probate case.
There is also a simplified probate procedure for estates that are valued at less than $300,000 but more than $100,000, but it also goes through the court system and may be contested. In other words, even the most streamlined procedures to transfer estates in Nevada fall under the purview of probate court, and there is a very good reason for this: once we have passed away, the probate court assumes a surrogate role that protects our interests. If we leave a will, the court wants to see that our last wishes are carried out, and the court is also open to hear from those who believe they have a claim to our estate.
Notwithstanding the above, Nevada happens to be one of the best American jurisdictions in terms of estate planning and probate avoidance. If you would like to spare your relatives from the probate process in Nevada, you should talk about your options with a seasoned Las Vegas estate planning attorney.
Now that you know that a will is virtually guaranteed to be registered with the probate division of the Nevada court system, you should consider taking advantage of the planning that you can achieve with trust-based estate planning. If you are concerned about estate taxation, you should not rush to transfer your assets in advance of your departure from this realm; you could actually complicate matters even more by doing so.
Call Accolade Law today at (702) 337-3000 to learn more about your Nevada probate and estate planning options.