Can the Executor of a Will file and split ownership of estate under $200,000.00 without probate ?

Asked almost 4 years ago - Las Vegas, NV

What form can be filed to split property of deceased parents to siblings ?

Attorney answers (3)

  1. Benjamin J. Comin

    Contributor Level 8

    Answered . Yes, probate will be required but in Nevada if the estate is worth less than $200,000 there is an abbreviated version of probate called "summary administration." It moves a little quicker than a general administration but is, for the most part, very similar. I would recommend talking to a probate attorney who can guide you through the process. If your case if pretty straightforward most firms will quote you a flat fee to handle a matter like this.

    Best of luck.

    This is meant as general advice only and I recommend that you consult an attorney before relying on any advice given here.

  2. Dara J. Goldsmith

    Pro

    Contributor Level 14

    Answered . If the assets in the estate are less than $100,000 and all debts of the estate have been paid or will be paid through the order of the court, an abbreviated action called a "set aside" may be initiated in Nevada to set aside ownership to the closest relatives or persons named in a Will, if there is a Will. If the estate assets exceed that threshhold, a probate must be initiated and administered.

    Additional issues that need to be examined are the provisions of the Wills of both parents, as well as any applicable survivorship provisions in those Wills.

    Disclaimer: The information contained in this answer is designed to enable you to learn more about the services that Goldsmith & Guymon offers to its clients. This information does not, and is not intended to, constitute legal advice, nor is it intended as a source of advertising or solicitation. Your use of this information does not create or constitute an attorney-client relationship. You should not consider this answer to be an invitation for an attorney-client relationship. You should seek the assistance of an attorney to provide you legal advice based on the specific facts and circumstances of your particular situation.

  3. Steven J. Fromm

    Contributor Level 20

    Answered . If there are assets in a decedent's name, then the will must be probated. Once a person dies no one can act for him or her except for an executor, where there is a will, or an administrator, where there is no will. Such fiduciaries need to be officially named by the register of will or probate court to have the legal power to act for an estate. They must follow the terms of the will and distribute assets according to such terms. However, many states have small estate procedures that make it easier to probate a will. You should speak with an estates attorney in your jurisdiction.

    Hope this helps. If you think this post was helpful, please check the thumbs up (helpful) tab below and/or designate my answer as best answer. Thanks.
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