Available options if you inherit property outside of Nevada
In some situations, inheriting property from your parents or other relatives may be more than a godsend. However, in other circumstances, it may be a burden. And if that property or properties are in other states, matters can grow mildly complicated, but also be...
Troublesome heirs: A guide for executors
When you agreed to be the executor of your friend’s or relative’s estate, you were prepared for the time, effort and energy that the job entails. You weren’t so prepared, however, for the heirs. Whether they’re anxious about the dollar amounts involved in their...
How long do creditors have to bring claims against an estate?
As executor of an estate, you have a lot of responsibilities. You have to secure the property of the deceased and communicate with all of their family members. You need to file paperwork with the probate courts and eventually distribute property to the various heirs...
Will I be reimbursed for executing an estate?
Executing an estate can take a considerable amount of your time. If you live out of the area, it will also require significant travel expenses. While you may consider it an honor when someone asks you to execute their estate, you may prefer to spend your time and...
Dealing with a house in probate
If you are the executor of an estate, what must you know about real estate and probate of the estate? Much depends on whether the decedent had the foresight to place the property into a joint tenancy or a trust. Failing that, there are some specific steps to take in...
What debts will a Nevada executor have to pay from the estate?
The probate process can be an overwhelming experience, especially if you have never handled an estate before. There are all kinds of obligations for an executor, including notifying family members and filing paperwork with the probate court. Handling the financial...
When does an executor have to file a tax return for the estate?
Tax obligations are a big part of what an executor’s job in handling an estate. Estates may be subject to taxation based on their overall value, which an executor has an obligation to manage. Although Nevada does not have an estate tax, the federal government does for...
What does real estate mean for estate administration in Nevada?
During estate planning, a testator often seeks to control the flow of their property to the next generation after their death. Estate planning might integrate both tax planning and asset protection from creditors with careful instructions for an executor regarding...
How much does it cost for an estate to go through probate court?
When someone sits down to plan their estate, one of their goals could be to avoid probate proceedings. Most people have heard at least one horror story of an estate that spent months if not several years going through multiple challenges in the probate courts....
What are some non-conflict factors that may slow down the probate process?
The probate process is unfamiliar to a lot of people. While many people understand that individuals write wills to dictate what they want to happen with their assets when they pass on, they don't realize that the transfer of their belongings isn't immediate. The...