Simplified Probate for Small Estates in Nevada
In general, when someone dies, the estate must go through probate which can be a complicated and lengthy process. But many states provide less complicated options for smaller estates.
Nevada law provides for simplified probate when the value of the estate less any encumbrances does not exceed $100,000. If there is a surviving spouse or children, the court must order that the entire estate be used for the support of the spouse and/or children. If there is no surviving spouse or children, the court must order that the estate be used to pay funeral and last illness expenses, reimburse Medicaid and pay creditors. Any portion of the estate left after that, may be distributed to persons entitled to it.
Another option in Nevada for heirs or beneficiaries to inherit property is the use of an affidavit. The heirs or beneficiaries prepare an affidavit identifying the assets they are entitled to inherit. This option may be used when the decedent leaves no real property and the value of the estate, less any amounts due the decedent for service in the U.S. armed forces, does not exceed $20,000. The person who is entitled to the estate may, without procuring letters of administration or waiting for the probate of the will, collect the property with an affidavit after a waiting period of 40 days.