Probate is the process by which the legal system executes the deceased person’s estate according to their wishes. Following the individual’s will, or Nevada intestate succession laws if there is no will, their assets will be allocated appropriately and all claims will be settled. Assets refers to what an individual leaves behind of value, including property and finances. Probate laws safeguard this process, making sure that both debts are paid and property is passed on correctly. The probate process in Nevada can be stressful and overwhelming, but a lawyer who specializes in this area of law can streamline the process and give you peace of mind.
Going to court for probate isn’t always required. A court proceeding becomes necessary only when the individual possessed assets in his or her name alone. Non-probate assets typically are passed on to their inheritors without this process. They include:
- Assets the deceased individual owned in joint tenancy with someone else, or assets that were payable-on-death, which pass automatically to the surviving owner
- Assets the deceased individual designated a beneficiary for outside of the will, such as IRAs or 401(k) plans for which the deceased person named a beneficiary, or payable-on-death bank accounts
- Life insurance proceeds or pension benefits that are payable to a named beneficiary
- Assets held in a revocable living trust
Probate lawyer Gloria Petroni will work with you to avoid the probate process if possible, due to its costly, drawn-out, and invasive nature. If the deceased individual moved their assets into a living trust or otherwise avoided legal counsel, probate may be inevitable. Using her experience and discretion, Ms. Petroni can guide a family and their executors, administrators, conservators, and other beneficiaries through the probate process, which may include the following:
- Admitting the will to probate
- Drafting small probate set asides
- Preparing all probate documents in both testate and intestate matters
- Collecting and evaluating assets
- Paying valid debts
- Presenting appropriate petitions for handling and sale of the estate
- Ensuring that IRS requirements are met
- Disbursing assets to heirs and beneficiaries
- Managing probate litigation, including will contests and disputes over valuations or accounting
HOW LONG CAN I EXPECT PROBATE TO TAKE?
While more complex or larger value estates can take longer than a year in probate, smaller or more simple estates may take less than six months. In either situation, The Petroni Law Group will endeavor to move an estate through the process as efficiently as possible.
WHY CHOOSE GLORIA M. PETRONI TO HANDLE MY PROBATE?
Gloria Petroni has more than 30 years of experience with the Nevada probate process, both regarding in-state and out-of-state residents. Our close-knit legal team will provide you with excellent service and experience throughout your probate process.
ARE THERE ALTERNATIVES TO PROBATE?
One alternative to probate is known as a “small estate transfer.” This means that an estate valued at $100,000 or less can be administered via a summary set aside probate. Another alternative is if the deceased individual has established a living trust or payable-on-death designations of their assets. These alternatives typically help inheritors avoid the probate process.
If you find yourself in probate, we will guide you every step of the way, from lodging the will and notifying heirs, to transferring assets to the intended beneficiaries. If one of your loved ones has recently passed away and you are their representative, executor, or trustee, call our office today for a no-cost, confidential consultation. We can handle the details of your probate so that you are able to concentrate on the needs of your family.