How Small Estates Can Avoid Formal Probate

As you may already know, probate is a process that most people try to avoid. Not only can it be long and expensive, it often also leads to private details being exposed to the public. The good news is that if you are dealing with the probate of a small estate, then you might be able to avoid going through the probate process.

Under Nevada law, probate requirements depend on the size of the probate estate, with smaller estates having fewer requirements and being eligible for money- and time-saving shortcuts.

Probate Shortcut For Estates Valued At $25,000 Or Less

The smallest estates — those with a net value of $25,000 or less ($100,000 if it is the surviving spouse) and no interest in real property, including a mortgage, lien or trust deed — can be probated with an Affidavit of Entitlement and no court proceeding.

This potential shortcut has serious restrictions, including:

  • This probate shortcut is governed by state statute NRS 146.080.
  • The person filing the affidavit must be entitled to the assets pursuant to the decedent's will or intestate succession.
  • 40 days must pass after the decedent's death before the affidavit can be valid, and no other probate can be proceeding in any other jurisdiction.
  • There can be no will contest.

Probate Shortcut For Estates Valued At $100,000 Or Less

The "set aside without administration" procedure applies to estates that are valued at $100,000 or less, and they can include real estate. While there is a hearing that takes place, the formal probate process is avoided.

Here are just a few things that you need to know about this process:

  • This probate process is governed by state statute NRS 146.070.
  • A petition has to be filed with the court and then a hearing date is set.
  • All creditors have to be paid off (or if there is a spouse or minor children the estate may simply be set aside for their benefit without paying off the creditors depending on what the court determines is just) and notice has to be given to all interested parties.
  • At the hearing, the judge signs off on the court order.
  • Liens and encumbrances are deducted when determining the estate's value.

We Are Here To Answer All Of Your Probate Questions

At Escobar & Associates Law Firm, Ltd., our lawyer, Christy Brad Escobar, has been representing clients like you in the Nevada probate process for more than 30 years. No matter if the estate you are dealing with is large or small, we can provide the guidance you need.

Put our experienced attorney's knowledge and compassion to work for you by contacting our law firm online or by calling our Las Vegas office at 702-430-7401 or toll free at 888-339-6061 today.