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Probate and Estate Administration Archives

Selling a home after the death of a loved one

Nevada residents who are in charge of a sibling or parent's home after that person dies may wonder what they should do with the home. There could be options such as selling the home or renting it out although if the person is not an experienced landlord, it may be a good idea to get help with the latter option. The person might also wonder what to do if there is a reverse mortgage on the house. It is important to not be overwhelmed. Speaking to professionals, including a realtor, may be helpful. The difficulty of knowing how to proceed may be compounded by the grief and stress surrounding the loved one's death.

Estate planning crucial for family farms and ranches in Nevada

A family's agricultural business can be a great source of pride, but these entities face challenges when passed from one generation to the next. New leadership must be chosen carefully to ensure continued business success, and the threat of estate taxes after an owner's death needs to be addressed ahead of time.

Handling debts after a person passes

When an individual passes in Nevada, the executor of the estate should determine if that person's estate has any outstanding debt balances. From there, the executor must decide when and how to pay them. It may also be necessary to contact creditors to tell them about any delay in payment that may occur. Property tax and insurance bills are among the most important debts that an estate may need to pay right away.

Letting heirs know where to find estate planning documents

Some Nevada residents may have created an estate plan but not shared the whereabouts of the documents with their loved ones. According to a 2016 study by BMO Wealth Management that surveyed more than 1,000 people, only 33 percent of people had told their heirs where to find estate planning documents, and only 10 percent gave their heirs original copies. More than 10 percent of people said their heirs did not where to find the original documents, and one-quarter said that only their spouse knew where documents were located.

Unraveling false ideas concerning probate

For more than a decade, the attorneys at Cassady Law Offices, P.C., have been assisting clients from the greater southern Nevada area with their estate planning needs. Throughout that time, we have seen that there are many false ideas floating around regarding probate. Our job is to unravel this complex issue by explaining it in layman's terms to ensure our clients fully understand the process, which can greatly benefit them in estate planning matters.

How to keep an estate out of probate

Probate is a procedure that is designed to ensure that a deceased person's will is being honored. However, it can be a lengthy and costly process. Residents in Nevada who want their beneficiaries to access to their assets without any hassle after they die may want to know what to do in order to prevent their estates from having to go through probate.

How to be the executor of a parent's will

Being the executor of a parent's will is an emotional as well as administrative task. It involves handling financial obligations, attending any necessary court hearings and managing assets until the estate has been settled. Nevada residents who have been named as executors of their parents' last wishes should know that there are many steps involved in this process.

The responsibilities of estate administration

People in Nevada who have been designated as executors of their loved ones' estates might be wondering about the responsibilities it will entail. The first thing an executor should do is order at least 10 death certificates from the funeral director because this document will be essential when administering the estate or trust. A will may need to go through probate, and if there is a trust and the executor hadn't been established as a trustee, he or she will have to sign a Consent to Act and Certificate of Trust.

What happens when a person dies with debt

Not all Nevada residents leave extra money behind when they die. Many people have outstanding debts, and settling them could deplete a decedent's entire estate. After a person dies, the executor or court-appointed administrator will be responsible for verifying all of the decedent's debts and paying the debts off with money in the estate.