The State of Nevada is a leader in providing a wide range of choices and protections for decedent’s estates. To take full advantage of Nevada laws and procedures, you may need to consult with an expert Las Vegas probate attorney.
The basic task of a probate is to settle an estate, which requires gathering the assets, accounting for them, and keeping them safe. Settling the estate includes payment of taxes, creditor accounts, and determining the assets left for distribution.
The Nevada law of probate has confusing legal terms that may interfere with a good understanding of the rights and duties involved in probate. The below-listed descriptions should promote a better understanding of the basic terms and relationships in Nevada Probate.
- The Will is the written document that tells the court the wishes of the deceased for distribution of the assets he or she owned at death. A will must be filed within thirty days of death and filed in the County in which the decedent lived at the time of death.
- Probate is the process of proving a will or deciding the beneficiaries of an estate without a will (intestate succession).
- Decedent and Decedent’s Estate refer to the person and his or her estate that must go through probate.
- Trusts are legal structures under Nevada law that can hold title to assets. Trusts are an important part of estates and estate planning. Trusts can help avoid the probate process.
- A Trustee is a person named by the creator of the trust to control the assets. In Nevada law, the creator of a trust may serve as co-trustee. Nevada asset protection trusts must have at least one Nevada resident as trustee.
- An Executor is a person named in a will or by the person making the will to carry out the terms. The executors must fill legal duties and has responsibility for the assets in the will.
- A Personal Representative is an adult person named by a court to oversee an estate when there is no will. The basic task for the representative is to gather the assets and oversee the distribution. The Personal Representative may also be called an Administrator.
Get advice from an experienced Las Vegas probate attorney. The law offices of Sean Tanko will assist in every aspect of Nevada probate. Please call or visit online today.