Probate administration can be a daunting process, especially during an already emotional time following the loss of a loved one. At Solomon, Dwiggins, Freer, & Steadman, Ltd., we understand the complexities involved in managing estates, especially those that involve large family-owned businesses or other unique assets. Our team of experienced attorneys specializes in trust and estate law, and we are here to guide you through the probate administration process, ensuring that your loved one’s wishes are honored while minimizing stress for you and your family. Here’s a comprehensive 10-step guide to help you understand the probate process in Nevada.

1. Determine Whether Probate is Even Necessary

“Probate” generally refers to the court proceeding required to formalize the transfer of the assets belonging to a deceased person. If the decedent leaves a will, he or she has died “testate”, and the executor nominated in the will is appointed by the court, and the estate passes to the beneficiaries named in the will. A person who dies without a will has died “intestate”, and his or her estate will be administered by a court-appointed administrator, and that person’s assets pass to his or her default statutory heirs as set forth in NRS Chapter 134. Note that a personal representative refers to either the executor (will) or administrator (no will), as the case may be.

However, not all estates require probate. In Nevada, if all of the deceased person’s assets are held in a trust, jointly owned with rights of survivorship (e.g. jointly held bank accounts), subject to a payable-on-death designations (e.g. life insurance) or are otherwise subject to a non-probate transfer (see NRS 111.721), then probate may not be necessary. In addition, if the total value of the estate is less than $25,000 (or up to $100,000 if the claimant is a spouse) and does not include real property, an Affidavit of Entitlement may be utilized. NRS 146.080.
However, if there are assets solely in the decedent’s name that are not subject to a non-probate transfer and exceed a such values, probate will likely be required. Consulting with an experienced probate attorney is the
best way to determine whether the estate needs to go through probate.

2. Lodge the Will (If One Exists)

When the deceased person’s died with a Will, the deceased person’s will must be lodged (i.e. filed) with the court clerk. Under NRS 136.050(1) “[a]ny person having possession of a will shall, within 30 days after knowledge of the death of the person who executed the will, deliver it to the clerk of the district court which has jurisdiction of the case or to the personal representative named in the will.” If provided to the personal representative (i.e. an executor in this instance), then the personal representative must file it with the court “within 30 days after the death of the testator, or within 30 days after knowledge of being named.” NRS 136.050(2).

3. Identify the Personal Representative

The will should identify an executor who has priority to represent the deceased person’s estate. If it does not or no will exist, then Nevada law dictates the person entitled to serve as the administrator of the estate pursuant to the following order of priority: (a) surviving spouse; (b) children; (c) parent; (d) brother or the sister; (e) grandchildren; (f) any other of the kindred entitled to share in the distribution of the estate; and (g) the public administrator. NRS 139.140.

4. Petition to Probate the Estate

The probate process begins when the identified personal representative files a petition that is served on all those that may have an interest in the estate requesting that, among other things, (1) the court take jurisdiction, (b) appoint/confirm the personal representative via the granting of letters testamentary (if there is a will) or letters of administration (if not is not will); and (c) to open a general administration of the estate (if the value of the estate is over $300,000) or a summary administration of the estate (if the value of the estate is less than $300,000). NRS 145.040. Summary administration allows for a more streamlined administration, including a 60-day notice to creditors period instead of the typical 90-day period. NRS 145.060. The court will review the petition and the will, if applicable, that (a) assumes jurisdiction, (b) issues the appropriate letters; and (c) grants appropriate administration. Our experienced attorneys can help you accurately prepare and file these essential documents.

5. Marshall Estate Assets and File an Inventory

The personal representative is responsible for “marshalling” (legal jargon meaning identifying and securing) the deceased person’s assets. This might include real estate, bank accounts, investments, business interests, and personal property. The letters testamentary or letter of administration can be used with financial institutions to prove that you are the proper representative of the estate during this process. Unless waived by all interested persons, the personal representative must file an inventory and appraisement of all known assets of the deceased person as of the date of their death within 120 days of being issued letters. NRS 144.010. Careful records should be kept of all identified assets and expenses incurred by or on behalf of the estate because the personal representative will be required to account to the court for all the assets of the estate from the beginning inventory value through the date of the final accounting.

6. Obtain a Tax Identification Number for the Estate and Open an Estate Bank Account

The personal representative should obtain a tax identification number (EIN) issued by the IRS for the estate. This will be required to open bank accounts, file tax returns, and the like.
In addition, the personal representative should open a separate bank account in the estate’s name. This account will be used to pay debts, taxes, and other expenses, and to distribute assets to beneficiaries. Keeping estate funds separate from personal funds of the personal representative is vital to avoid potential legal issues down the line.

7. Notify Creditors and Pay Appropriate Debts of the Deceased Person

Once the probate process is initiated, Nevada law requires notice to all relevant parties, including beneficiaries, heirs, and creditors. The beneficiaries or heirs receive notice through receipt of the petition described in Step 3. To notify creditors, Nevada law requires the personal representative to prepare a 60 or 90-day notice to creditors in the form set forth in NRS 155.020 that then must be (1) sent via First Class Mail to all known creditors; and (2) published once a week for three weeks in a newspaper having general circulation in the county where the petition was filed in order to notify unknown creditors. If a creditor fails to submit a creditor claim within the appropriate timeframe, their claim as a creditor is barred. Timely submitted claims must be paid or, if there is a legal basis to do so, denied. If denied, the creditor may initiate a lawsuit to prove its claim. Once all creditor claims are resolved, the personal representative is able to make distributions at the appropriate time without fear that a creditor may come out of the woodwork at a later date, because claims are barred after the applicable notice period.

8. Sell Real and Personal Propery That Needs to Be Liquidated Prior to Distribution

If assets (whether real estate or personal property) of the estate will be sold during probate, the personal representative must typically file a petition seeking confirmation of the sale. NRS 148.060 However, the following estate property may usually be sold without court approval: (a) Perishable property and other personal property which will depreciate if not disposed of promptly; (b) Property which will incur loss or expense by being kept; and (c) so much other personal property as necessary to provide the family allowance under NRS 143.525. The sale of assets introduces significant complexity to the administration of the estate and is beyond the scope of this introductory guide.

9. Prepare and File Income and Estate Tax Returns

The personal representative must also file appropriate federal income tax returns, typically in consultation with an accountant. In some cases involving high net worth deceased persons, federal estate taxes may also be due thereby necessitating the filing of an estate tax return (Form 706). Notably, Nevada does not have an estate or income tax.

10. File a Petition to Approve Final Accounting, Fees and Distribution.

When the estate is in a position to be distributed and closed, the personal representative typically files a petition to: (a) approve a prepared and attached accounting for the period since the last inventory and accounting through the present (see NRS 150.070-210); (b) approve the personal representative’s fees for administering the estate (see NRS 150.010-50); (c) approve the personal representative’s attorney’s fees (see NRS 150.060-67); (d) discharge the personal representative from any further liability (NRS 150.240); (e) approve proposed distributions to the beneficiaries consistent with the terms of the will or to the heirs consistent with the Nevada’s laws of intestacy. If no beneficiary objects to the accounting or petition and it is approved by the court, the personal representative may distribute the assets of the estate as proposed in the petition. Upon filing proof with the court that he or she has done so, the personal representative is discharged and estate is officially close.

Why Choose Solomon, Dwiggins, Freer, & Steadman, Ltd. for Your Probate Needs?

The probate process can be overwhelming, especially for those managing large estates with complex assets such as family-owned businesses or real estate holdings. At Solomon, Dwiggins, Freer, & Steadman, Ltd., we specialize in trust and estate law, providing expert legal counsel tailored to your unique situation. Our team has extensive experience in handling large, complex trust administrations and can navigate the challenges of managing intricate business structures within an estate.

Our goal is to make the probate process as smooth and stress-free as possible for our clients. We will work closely with you to ensure that all legal requirements are met, assets are managed appropriately, and the wishes of your loved one are honored. Whether you are dealing with a straightforward estate or a complex trust administration, our firm has the expertise to guide you every step of the way.

Contact Us Today

If you are facing the probate process in Nevada, don’t do it alone. Let the experienced team at Solomon, Dwiggins, Freer, & Steadman, Ltd. assist you. Contact us today to schedule a free consultation: 702-853-5483.

Navigating probate doesn’t have to be overwhelming. With the right legal guidance, you can ensure that your loved one’s estate is managed efficiently and according to their wishes. Solomon, Dwiggins, Freer, & Steadman, Ltd. is here to provide the expertise and support you need during this difficult time.