Nevada Probate Proceedings

  1. Affidavit of Entitlement: Estate Values of $20,000 or less (or $100,000 if spouse) with no houses or land may be claimed using an Affidavit of Entitlement which does not require filing with the court.
    1. Court Filing Fees and Costs: $0
    2. Only requires furnishing of a death certificate along with the signed and notarized affidavit to the party holding the asset.
    3. If a beneficiary claims using this method, a creditor has up to 18 months after the claim to pursue the beneficiary up to the amount of the claimed asset.
      1. Example: Adam claims $20,000 under an affidavit of entitlement. One year later, Spring states the estate owes Spring $30,000 in unpaid bills. Sprint may recover up to $20,000 from Adams.
    4. Pros: Quick and does not require probate proceedings.
    5. Cons: The person who signs the affidavit is responsible for up to the full amount inherited regardless of distribution to siblings etc.

 

  1. Set Aside Without Administration: Estate Values of $150,000 or less.
    1. Court Filing Fees and Costs: Approximately $300
    2. Does not require publication of notice to creditors though publication is recommended.
    3. Faster than the remaining types of probate because it requires only notice and a hearing but does not require the appointment of an executor.
    4. Notice must be given to all interested parties within 10 days of the probate hearing including the Nevada State Welfare department
    5. Requires the following information to begin the probate:
      1. A specific description of all the decedent’s property;

A list of all the liens and mortgages of record, creditors and potential creditors as of the date of decedent’s death;

  1. An estimate of the value of the assets;
  • A statement of the debts of the decedent so far as known to the petitioner;
  1. The names and residences of the heirs and devisees of the decedent and the age of anyone who is a minor and the relationship of the heirs and devisees to the decedent
  1. Requires filing tax returns as necessary
  2. Must file and inventory of all assets and dispositions
  3. Pros: Quick and inexpensive.
  4. Cons: Does not require creditors to come forward and so does not necessarily cut off creditors from attempting to collect.

 

  1. Summary Administration – Estate Values between $100,001 and 300,000
    1. Court Filing Fees and Costs Approximately $450
    2. Preferably filed within 30 days of death
    3. Notice to Creditors must be mailed out to heirs and known creditors including the Nevada State Welfare department
    4. Notice by Publication to unknown creditors.
    5. Creditors have 60 days within which they may file a claim on the estate. Once 60 days have passed, the creditors may no longer claim.
    6. Requires an accounting at the beginning and end of the probate process
    7. Must file an inventory of all assets and dispositions
    8. Pros: Shorter time period compared to the general administration. Effectively cuts off all creditors from collecting if they do not come forward in the 60 day time frame.
    9. Cons: If, after inventory, the estate is estimated to be worth over the $300,000 threshold, there will be additional paperwork required to convert the proceedings to a general administration.

 

  1. General AdministrationEstates valued at over $300,000
    1. Court Filing Fees and Costs: Approximately $786
    2. Notice to Creditors must be mailed out to heirs and known creditors including the Nevada State Welfare department.
    3. Notice to unknown creditors must be published.
    4. Creditors have 90 days within which they may file a claim on the estate. Once 90 days have passed, the creditors may no longer claim.
    5. Requires an accounting at the beginning and end of the probate process
    6. Requires filing tax returns as necessary
    7. Must file an inventory of all assets and disposition
    8. Pros: Similar to the Summary Administration, it cuts of all creditors if they fail to come forward after 90 days.
    9. Cons: Much longer process and inventory may be substantial. It is also very costly.