Dynasty Trusts and other advanced Estate Planning Tools
Nevada Probate Attorney / Nevada Probate Lawyer
Contact Oshins & Associates, LLC at firstname.lastname@example.org or 702-341-6000 if you would like to discuss a Nevada probate or estate administration.
What is probate? Probate is a process that takes place after a person dies in which the transfer of an estate is done with the supervision of the probate court. For example, if a decedent dies as a resident of Las Vegas, Nevada, a Nevada probate attorney (Nevada probate lawyer) can make the appropriate court filings to smooth the transition of the estate from the decedent to the appropriate recipients. The process includes proving in court that a deceased person's will is valid, identifying and inventorying the deceased person's property, having the property appraised, paying debts and taxes, and distributing the remaining property as the will or state law directs. The filings are made in the Clark County Probate Court which is located in Las Vegas.
How does a Nevada probate work? After the person's death, the executor or administrator files papers in the Nevada Probate Court with the assistance of the Nevada probate attorney (Nevada probate lawyer). The executor or administrator presents the court with a list of the decedent's property, debts and who is to inherit the property. Relatives and creditors are officially notified of the person's death. After all required steps, the court issues an order directing the transfer of the probate estate to the recipients.
How can you avoid probate in Nevada? You can avoid probate in Nevada by transferring assets to a trust prior to death. A Nevada probate attorney (Nevada probate lawyer) can form the trust(s) and make the appropriate transfers. Real estate is transferred to the trust by deed. Personal property is transferred to the trust by assignment or by changing the ownership of an account. A Nevada probate attorney (Nevada probate lawyer) can assist you in making these transfers.
Does a Will avoid probate in Nevada? No, a Will only directs who the recipients are of the decedent's assets. This is why the Nevada probate attorney (Nevada probate lawyer) will generally draft a revocable trust combined with a pour-over Will. All assets owned in the name of the trust avoid probate at the decedent's death. Subject to certain exceptions, assets owned in the decedent's name are subject to probate at the decedent's death.
How long does the Nevada probate process take? It depends upon the facts. Oshins & Associates is very experienced in these matters and therefore can generally handle the probate from start to finish in approximately five or six months. However, if there are complex issues involved or there are reasons to extend the probate, the probate can continue for much longer than this estimate.