Low-Cost Probate Administration In Las Vegas
Probate is the legal process used to wrap up the estate of a person who has died. The process involves the collection, inventory and appraisal of assets; handling of estate disputes; filing and payment of estate taxes, payment and collection of debts; and the distribution of remaining estate assets to rightful beneficiaries.
For two decades, Cassady Law Offices, P.C., has assisted individuals and families throughout Southern Nevada with navigating the complex probate process and working to ensure that decedents’ wishes are carried out. We work closely with clients to simplify this challenging process and make it less stressful – and more affordable – for all involved.
How Does Having An Estate Plan Affect Probate?
A thorough and strategic estate plan can actually help you avoid probate. When clients come to us with this goal, we utilize a variety of strategies for avoiding probate in Nevada, including revocable living trusts, beneficiary designations and joint ownership interests.
Even if probate cannot be avoided in a given case, it is still highly beneficial to have an estate plan in place, as this will make the probate process faster, easier and more predictable.
Types Of Probate Proceedings
In Nevada, the size of the decedents’ estate will determine whether the probate process is relatively straightforward or extremely complex. For smaller estates, an affidavit of entitlement, small estate set aside and summary administration are cost-effective and faster alternatives to general probate administration. The majority of estates valued over $200,000, however, will be required to go through general probate administration. At Cassady Law Offices, P.C., we can help you understand which type of probate proceeding is necessary and help you complete the components of the process.
What To Know About Ancillary Probate
Each state can only transfer ownership of real estate located within its own borders. Therefore, if someone owns real estate in Nevada but isn’t a resident of Nevada, that real estate will need to go through its own probate process (separate from the process in the decedent’s home state). This is what’s known as ancillary probate.
Probating real estate in Nevada (or anywhere else) requires the help of local attorneys licensed in that state. Our firm offers convenient and experienced ancillary probate services for properties in the Las Vegas area and throughout Southern Nevada. Because you likely also reside outside of Nevada, most of our work with you can be handled by phone, email, U.S. mail and other means that reduce or eliminate the need for travel.
Misconceptions About Probate In Las Vegas
When dealing with probate, common misunderstandings can cause worry and stress. The attorneys of Cassady Law Offices, P.C., can help you sort through common misconceptions about probate in Las Vegas and throughout Southern Nevada.
1. The cost of probate will wipe out all of the estate assets.
This is rarely true. Many estates can avoid probate completely because the deceased person had no assets in his or her name. He or she may have placed everything in a revocable living trust that allows for avoidance of the probate process.
In other cases, the decedent’s assets may be worth less than $200,000, so the estate may qualify for a simplified and less expensive probate process, such as affidavit of entitlement, small estate set aside or summary administration. Even if the estate requires formal probate, costs are likely to be only a small percentage of the value of the estate. Costs go up, however, if settling the estate requires litigation.
2. Probate is a routine and simple process.
In many situations, the probate process can be a routine and simple matter. However, disputes over the terms of the will, the capacity of the decedent to make a proper will and the rights of spouses and children affected by divorce can all complicate probate matters.
3. Having a will means you can completely avoid probate.
A will does not necessarily prevent an estate from going through the probate process. However, a properly drafted and executed will can do much to minimize the expense and hassle of probate.
A will can also help you avoid:
- Claims of undue influence
- Breach of fiduciary duties by the executor or personal representative
- Disputes over distribution of property
- Lack of timely or proper inventory of assets
- Omission of creditors
- Improper execution of the will
These issues can prolong the process of probate.
How Long Do You Have To File Probate After Death In Las Vegas?
Nevada law states that the person who has the will must file it with the court within 30 days of the death, and probate should begin as soon as is practical. Filing the will by this deadline is not merely a legal requirement. It also prevents delays in the distribution of assets and reduces the risk of conflict by making the contents of the will known as soon as possible.
When Is It Important To Hire A Probate Attorney?
You want the probate procedure to go smoothly, especially if you are also trying to cope with the grief of losing a loved one. Therefore, it is a good idea to work with an attorney with experience in probate law. For very small estates or those with simple assets, a probate attorney may not be necessary. For everyone else, skilled legal counsel is a worthwhile investment.
Why Work With Cassady Law Offices, P.C.?
Probate can be an emotional, time-consuming and expensive process, especially if the decedent did not have a will or had a poorly drafted or difficult-to-interpret will. You can rely on our experience to guide you through this process.
Family owned and operated since 2002, Cassady Law Offices, P.C., has extensive experience representing clients in estate administration proceedings in probate courts throughout Southern Nevada. Our attorneys take a special interest in probating estates faced with complex tax issues and the distribution of substantial assets. We are committed to helping our clients minimize tax liabilities and preserve estate resources.
Assistance With Probate In Henderson And Throughout Southern Nevada
Contact Cassady Law Offices, P.C., to schedule a free 30-minute consultation with one of our knowledgeable Las Vegas probate lawyers. You can send us an email or call us at 800-557-6423 or 702-706-1083. We look forward to speaking with you.