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When should a Probate be opened in Nevada?

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Information provided by the State Bar of Nevada  http://www.nvbar.org/sites/default/files/probate%20and%20administration.pdf

As soon as practical following the person’s death.  In Nevada, if the total amount of the deceased person’s assets exceeds $20,000, or if real estate is involved, probate (or administration) will be required and there is normally no reason to delay starting the process.  Nevada law requires a person in possession of the deceased person’s will must “deliver it to the clerk of the district court” within 30 days of the death. If a Probate or Administration of an estate is not required,
how do I inherit a deceased person’s assets?

If there are no real estate holdings and the value of the estate does not exceed $20,000, certain surviving family member(s) or a person entitled to inherit the property from the estate may initiate proceedings 40 days after the death.  Without any court proceeding, these parties may use a form called Affidavit of Entitlement permitting the release of the assets from any person or business holding those assets (such as a bank, stock brokerage company or pension plan  administrator).

 

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About the Author

Mr. Arlint is a tax attorney, he is a partner in the law firm Arlint & Armstrong and President of Arlint CPA. His practice areas include income tax, estate tax, and IRS representations.

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