What is Set Aside Without Administration?
It can be a confusing and complicated time when you lose a loved one. Whether or not their passing was expected, you may find yourself faced with escalating emotional and financial strains. On top of that, you must now figure out how to deal with the money and property they left behind.
The process for settling your loved one’s estate is called probate. It can be complex, and it can take several months to years to complete.
Thankfully, Nevada has a separate and simplified process called “Set Aside without Administration”. This is for smaller estates, with or without property. If you are eligible, it will save you time, money, and annoyances.
What is Nevada Set Aside without Administration?
The Nevada Set Aside is a shortened process that eliminates the need to go through a formal probate procedure. There is no need for the court to appoint a legal personal representative for the estate and you do not need to go through multiple court hearings.
The purpose of the Set Aside is to protect families. The Nevada legislature created the Set Aside process to make sure that surviving spouses and minor children were taken care of after a loved one passed away.
There are several benefits of choosing Set Aside. Mainly, it will cost you less time and money. In general, the process can be completed in as little as 30 days. Hiring a probate attorney to help you go through it can guarantee that the process goes smoothly and quickly.
Is Set Aside without Administration right for you?
The one main factor in determining if you are eligible for a Nevada Set Aside is that the total sum of the estate must be $100,000 or less. This includes the value of homes or land. Note that it is the total sum of the estate. You can subtract any liens, loans, or mortgages when calculating the final total.
It is also best for the person filing the petition to be either the surviving spouse or a minor child. Nevada provides even further protections for these family members.
The judge has the discretion to disregard any creditors who may object to the Set Aside. Also, the judge can choose to ignore will provisions that left parts of the estate to people who are not members of the immediate family.
What is the process for Set Aside in Nevada?
Even though the Set Aside is a simplified process, there are still several steps that need to be taken. Hiring a probate attorney to help you through these steps is your best option to get the estate settled fast and without complications.
Filing the Petition
The first step is to file the “Petition to Set Aside without Administration” with your local probate court. This cannot be filed until at least 30 days have passed since you lost your loved one. There are also two forms you can use, depending on whether a will is involved or not.
This petition must contain certain information including:
- the names and addresses of all known heirs
- a statement of debt, lists of mortgages
- exact descriptions of any property
- and all estimated assets.
There is a fee for the petition that is based on the amount of the estate. A waiver for the fee may also be available.
After you file the petition, you will receive a Notice of Hearing. This contains the date and time of your court hearing, which is usually only a few weeks away.
You will need to mail this notice to certain individuals listed in the petition. Mainly, any heirs and creditors. During this notice period, you can check with the court to see if any objections have been filed.
Set Aside Hearing
Finally, you will attend a hearing that is presided over by a judge. This hearing gives interested parties a chance to object to the Set Aside.
As mentioned before, the judge can also make the decision here to disregard creditors and provisions listed in the loved one’s will if doing so will benefit a surviving spouse or minor child. If there are no objections, the judge will issue an order that transfers the estate to the surviving spouse and heirs and the process will be complete.
What complications can happen?
There are a few things that can complicate this simplified process. At the beginning, you may need help calculating and proving the total sum of your loved one’s estate. For example, you may not know the exact value of all your loved one’s assets and debts. It is possible that there are hidden liabilities that you do not know about.
There can be difficulties and headaches gathering all the information that is needed in the petition.
There are numerous forms that must be included and if you miss just one, the process may take longer than expected. Finally, at the hearing stage, someone can object to your petition. A creditor or other possible beneficiary has that right. If there are objections, the process may be longer and more confusing.
How can we help you through this process?
What do you do if you didn’t know the exact calculation of your loved one’s estate? What is the difference between filing a petition with a will and filing one without? Are you eligible for a waiver of the fees? What happens if someone objects to your petition at the court hearing?
Hiring a probate attorney to help you through the Set Aside without Administration process in Nevada will answer all these questions. It will also help you prepare for any further unforeseen problems that may happen. Grant Morris Dodds will make sure that you have all the right paperwork, fill out the petition completely, are prepared for your hearing, and are ready for any unexpected issues.
If you think that a Set Aside without Administration is right for you or your family, contact us and we will help you through the process of settling your loved one’s estate quickly and without complications.