Probate is the term used for the legal process in which your estate and assets will be distributed by a court after your death in the Las Vegas or Henderson, NV areas. It’s normally needed when you have owned the title to land or have numerous stocks and bonds in your name only with no co-owner; the court will determine how to place those items under new beneficiaries.
In an event where a will is not provided, probate can be a messy and stressful time for the family. Decisions made by the courts may be disputed by the family and relationships can be broken as a result.
Please contact us at 702-938-2244 or click here to schedule a free one hour probate consultation to discuss your specific probate issues.
If a family is facing probate on property, money or belongings, a lawyer can be a great benefit to help navigate around the tax issues that could arise. A strong knowledge of the legal system, as well as an understanding in filling out all of the paperwork, is also a benefit.
Why Preplan Your Estate Affairs?
Preplanning your estate affairs and will well ahead of your death can go a long way to ensuring your assets are distributed to family, heirs and charities as you want them to be. Going through the probate process in a court of law may or may not distribute them in the way you and other members of your family would have wanted.
The professional and experienced lawyers at GMD Law Offices can help you and your family through the preplanning process.
If you have any legal questions or concerns regarding probate law, estate planning, or would like to start the process, contact us by email or give us a call at (702) 938-2244 to request a free consultation today.
When a person dies owning assets in his or her individual name, probate may be required regardless of whether the decedent left a will (testate) or died without a will (intestate). There are some ways in which the probate process may be avoided or minimized.
The probate process is the administration of a decedent’s estate with court oversight. Generally, the probate process requires the appointment of a Personal Representative (an executor named in a will or an administrator of an intestate estate). The goal of the probate process is to marshal the decedent’s assets, provide for payment of just debts and expenses and finally to distribute the estate pursuant to a decedent’s will, or to the decedent’s heirs.
Some assets may be exempt from the probate process. If the decedent took time during life to establish joint accounts with rights of survivorship, accounts with payable on death designations or named beneficiaries, these assets would pass to those joint holders or named beneficiaries. There may also be some creative solutions applicable under the law to minimize probate or avoid it altogether. You should seek proper legal counsel in this regard.
If a decedent left a will, the executor is charged with filing the will and seeking its admission to probate. If the decedent died intestate (without a will) then the applicable state statutes outline a priority of who might seek appointment as an administrator of the decedent’s estate. It is advisable for an executor or one who seeks appointment as an administrator to seek competent legal counsel to ensure compliance with the applicable probate law and avoidance of personal liability.
There are estate planning tools, such as revocable trust, when if properly funded, will avoid the probate process. Competent legal counsel should be sought in the preparation of estate planning documents to ensure your intent is carried out and avoid unforeseen circumstance i.e. probate, adverse tax consequences, etc. If a decedent died without a properly funded trust, some type of probate may be necessary, a good probate attorney will be able to advise you on the most cost efficient and expedient way to navigate the probate process.