When a loved one passes on, it may be your responsibility to figure out what to do next. Many people provide details for the distribution of their property in their estate planning documentation, like a will. However, in most cases, whether there is a will or not, you must undergo a process known as probate before assets can be dispensed to the proper parties.

FAQ Regarding Probate in Nevada

What is the purpose of probate?

Probate is a court proceeding. Through this process, the courts authenticate the will, ensure administrative fees and taxes on the estate are paid, and distribute the deceased's assets as specified by the will. The will names an executor or administrator, who is the person responsible for initiating and overseeing probate proceedings.

What steps does probate involve?

First, the executor or administrator notifies the probate court. They must then compile a list of all the deceased's assets—from bank accounts to houses. Any beneficiaries named in the will must be notified. Creditors must also be alerted, as they have a right to claim funds they are owed from the estate.

The court then ensures that any debts or taxes on the estate are paid. Finally, the executor can oversee the transfer of assets to the beneficiaries, as outlined in the will.

Is probate always necessary?

Probate is needed whenever the deceased had assets that didn't transfer automatically upon their death. If your relative doesn't want you to have to go through this process, valuables can be placed in a trust while bank accounts can be designated “payable on death.” Property can be automatically transferred through joint ownership, where two people are declared legal owners. That way, if one dies, the other one becomes the full owner.

What if the deceased didn’t have a will?

Some people avoid probate through other estate planning measures. They may create a living trust instead, for example. If the deceased didn't write a will or take any other such steps, the courts apply state law to determine what happens with their assets. In Nevada, these so-called succession statutes stipulate that assets go to the next-of-kin, such as a surviving spouse, children, or parents of the deceased.

For assistance with the probate process, trust Goicoechea, DiGrazia, Coyle, & Stanton of Elko, NV. This law firm offers knowledgeable legal guidance backed by over 30 years of experience. Their friendly team will explain complex legal issues like estate planning to you clearly and honestly. Learn more about their lawyers online. For an appointment with a probate lawyer, call (775) 738-8091.