By definition probate is the legal process for the transfer of assets: houses, cars, stocks, bonds, boats, etc. from the deceased person’s name to his or her estate so they can be sold or distributed to the heirs. Probate is also a way to settle any outstanding taxes and liabilities that are due.
Probate is the process of getting a court to say who owns a dead person’s property. Probate is a public court proceeding. Probate takes place in the county of the decedent’s residence. The average probate case lasts between 9-18 months. Probate oversees the settlement of an estate. Probate validates the terms of a will, if there is one. Probate pays legitimate creditors, who decides who are legitimate creditors-the court decides. Probate distributes remaining assets and probate files are public information.
HOW DOES PROBATE START? SOMEONE DIES. THIS PERSON IS OFFICIALLY KNOWN AS THE DECEDENT.
If there is a will that person died testate . The will directs disposition of the estate and settlement of legal affairs. The will designates an executor. The person named in the will to oversee the estate is called the executor-if male and executrix-if female. This person will be in charge of overseeing the estate while the estate goes through to probate process. The executor initiates probate. The will must be filed at the court house. The will designates heirs
If there is no will the person died intestate. Someone will step forward as the potential administrator and initiate the probate. In this case the court will appoint someone to oversee the estate, usually a family member. The person appointed by the court is called administrator-if male and administratrix-if female. This person will be in charge of overseeing the estate while the estate goes through the probate process with court approval. The court oversees the liquidation of the estate.
In both paragraphs above the Executor or Administrator are commonly referred to as the Personal Representative, (also known as the PR). However there is a difference because Nevada discriminates against out of state Administrators but not out of state Executors. If you are named as the Executor in a will a Nevada probate court will appoint you (if the will is valid and you have not been convicted of a felony and are not crazy or underage) to be Executor no matter whether you live in Nevada or Afghanistan. But if you and your spouse live in California and your spouse dies with property in Nevada in his sole name but without a will, and even if you would inherit everything under the applicable laws, you cannot be the Administrator unless you associate a Nevada resident Co-Administrator
The personal representative is charged with the fiduciary responsibility of gathering the assets and paying the debts of the decedent in-such a way that the beneficiaries or heirs of the decedent receive the maximum inheritance. The personal representative usually will hire an estate attorney to handle the legal aspects of the probate. Most business dealings are through the estate attorney.
PURPOSE OF PROBATE.
To establish the validity of the will, (if there is one).
To establish the identity of the Heirs and Devisees. Devisees are person(s) named by the decedent in his/her will.
To protect the rights of legitimate creditors. A lender can foreclose on a property while in probate
To allow for payment of taxes.
To preserve the property and deal with the property
To distribute the property to the person or persons who are entitled to it.
WHERE ARE PROBATE CASES HELD IN S.NEVADA?
Here in Las Vegas and all of Clark County (including Henderson, Boulder City, North Las Vegas and Mesquite) probate is handled by a specialized probate court that is actually a subdivision of Family Court which is a subdivision of the Eight Judicial District Court. Click on this link to go directly to the Family Court Probate website:
For more detailed information regarding Nevada probate Law and to obtain a copy of the “Synopsis of Nevada Probate Law” click here:
Call us at 702-379-3139 and allow us to explain the many ways that we can help make the sale of your Probate Real Estate as stress free as possible.
Thomas “Joe” Samples, C.P.R.E.S
Urban Nest Realty
10220 W Charleston Blvd., Suite 3
Las Vegas NV 89135