It can be emotionally and mentally challenging to navigate the process of settling the estate of a loved one. If you are the executor of a Nevada estate or have a claim to an estate, it can be helpful to understand the intricacies of the probate process and what you can expect from what is ahead. This may help you avoid problems as you complete certain requirements and take the appropriate steps to close the estate and move forward.
Probate is the legal process of closing remaining affairs associated with an estate. This can be an intricate process, depending on the complexity of the estate and other factors, such as whether there are disputes over the terms of the will. Knowing what to expect can reduce your confusion and simplify your role as the executor.
Common things you may experience during probate
The probate process is a legal requirement for most estates, even with a will that clearly outlines what should happen with estate assets and other matters. In many wills, a decedent can name a person to act as the executor of the estate. This person will have the responsibility of ensuring that all requirements of probate are met and all affairs settled in order to close the estate. Factors that may affect how long probate takes include the following:
- Size of the estate
- Conflicts among heirs and beneficiaries
- How much of estate must go through probate
- Will contest or questions about validity of will
- Real estate problems that will affect transfer of title
- Mismanagement of estate property
- Conflict over the validity of creditor claims to the property
- Difficulty locating property associated with the estate
- Tax problems or having sufficient funds to pay creditor claims
The first two requirements of the executor are to locate the will and file the appropriate documentation with the court. In order to distribute estate assets and close an estate, there must be a resolution of all outstanding creditor and tax claims.
Guidance for the probate process
It can be helpful for the executor of an estate to have knowledgeable guidance at every step. This may help one avoid problems and effectively navigate any challenges that may arise between opening the estate and the conclusion of the probate process. Each estate is different, but a basic understanding of what to expect may prove beneficial.