Burdick Law is experienced in Probate Administration and is here to assist you through the Process. Call us for a free consultation today.
What is Probate?
Probate Administration is necessary when someone passes without or without a Will. If someone passes with a Living Trust then Probate Administration is not necessary. Probate is a court-monitored process of providing the validity of a Will, transferring property and settling the affairs of a deceased’s estate. If there is no will, a similar process known as Administration is used to settle the deceased affairs. Keep in mind that Probate should be opened as soon as practical following the person’s passing. Nevada law requires a person in possession of the deceased person’s will to deliver the same to the district court within 30 days of the death.
What is the Process?
In a routine probate proceeding, you can expect a minimum probated period of 120-180 days. This allows for the appropriate notice to creditors and the period to file for claims. There are generally three different procedures depending on the value of the person’s estate:
- Exceeds $20,000-$100,000 In Nevada, if the total amount of the deceased person’s assets exceeds $20,000, or if real estate is involved, probate (or administration) will be required. If the value of the deceased’s estate does not exceed $100,000, exclusive of liens, a special petition to the court by the beneficiary or heirs may allow the estate to be “set aside” and distribution made without further court proceedings.
- Less Than $100,000- $300,000– If the deceased person’s estate has a net value exceeding $100,000 but does not exceed $300,000, the estate must proceed through probate by “Summary Administration,” which provides for a somewhat simplified procedure.
- Exceeds $300,000 If the deceased person’s estate exceeds $300,000 the estate must proceed by “General Administration,” which the procedure is somewhat more extensive.