Add Checkbox Group Legal Nevada Small Estates Forms For Free

Legally, you are not required to have the Affidavit notarized. But many institutions will ask you to do so, so it may be a good idea to notarize it before you try to use it to transfer the property. If there are other people entitled to inherit the property, they must also sign the Affidavit.

Trusts Can Help You Avoid Probate Most of the time, Nevada residents do this by creating revocable living trusts. This type of trust is organized and then handed over to a trustee upon the death of the person who created the trust. The trustee then has the right to distribute the property after the decedent's passing.

(NRS 146.070.) The "set aside" process can begin 30 days after the decedent's death and requires mailed notice to the decedent's heirs, devisees, and creditors. The "set aside" process does require a court hearing, but generally requires fewer hearings than the probate administration processes of larger estates.

Nevada Set Aside Procedure The procedure for obtaining a Set Aside in Reno starts with filing a “Petition to Set Aside Estate Without Administration” in the local probate court. This petition must include, among other things, whether the Decedent was married and/or had minor children.

If there is no named executor, a person, usually a friend, family member or another interested party, may come forward and petition the court to become the administrator of the estate by obtaining letters of administration. If no one comes forward on their own, the court may ask a person to serve as an administrator.

The Small Estate Form allows the Executor(s)/Next of Kin to legally transfer shares from a person who has passed away into their name(s) and provides information in regards to how the shares can be sold.

In Nevada, the small estate affidavit is valid for estates worth less than $25,000, not including the value of any vehicles. The estate also must not include any real property, such as a home or land. The limit is higher, $100,000, if there is a surviving spouse.

In Nevada, you can make a living trust to avoid probate for virtually any asset you own—real estate, bank accounts, vehicles, and so on.

However, if a person only uses a will, a probate will be required for the distribution of those assets that do not automatically transfer to another person, such as with real property. With only a will, children and other beneficiaries can be stuck with a time consuming and expensive probate case.