Probate Administration
Dealing with the loss of a loved one is already difficult, but when you also have to deal with guiding their estate through the probate process, things can quickly become overwhelming. Probate is the procedure created by the State of Nevada for determining who will be in charge of managing a deceased person’s estate and ensuring the deceased person’s heirs receive their inheritance. While probate can differ depending on the size of the estate, the process is best avoided entirely. Consulting with an attorney to prepare your estate ahead of time is the best gift you can give to those you will leave behind. However, if you find yourself tasked with administering an estate in probate, retaining the services of an attorney is often the best way to complete the process correctly and in a timely manner.
Beginning the Probate Process
Ideally the deceased will have left a will or other estate planning documents to provide their heirs with guidance as to their final wishes and the distribution of their property. By law, when a loved one passes away, the person who has possession of the deceased’s Last Will and Testament must deliver those documents to the Clerk of the District Court in the correct jurisdiction. This is referred to “lodging the will” with the court and it is the first step that your attorney can complete on your behalf. After the Will has been lodged you, or your attorney, need to ask the Probate Court for permission to legally assemble the estate and issue the Letters of Administration. The person who receives these letters is often referred to as the Personal Representative, the Administrator, or the Executor. If the deceased did not name someone to serve in this position before their death, your attorney can provide you with options for having one appointed.
The administrator of the estate has the responsibility to gather the deceased’s assets, determine their debts, and ensure that their property is distributed correctly, all while providing accountings of their actions to the Probate Court, who oversees the entire process. The Letters will also allow the Administrator to act on behalf of the deceased. The Administrator will be able to sell the deceased’s home with the approval of the Probate Court. They will also be able to access the deceased person’s bank accounts and settle their debts. The administrator must publish notice to any creditors with whom the deceased had debt in order to allow these creditors an opportunity collect what they are owed from the estate.
Final Accountings and Closing the Estate
Once all the deceased’s assets are located and secured and all of the creditor claims are handled, the administrator must prepare a final accounting of the estate’s assets for the Probate Court. Essentially this is a report of how the deceased person’s assets were distributed to satisfy debts, and which heirs will be receiving certain assets that are left. After the final accounting is approved by the court, the administrator can be relieved of duty by the Probate Court and the heirs will receive their inheritance.
If this all sounds like a lot to process, you’re not alone in feeling this way. The probate process can be a pain and it’s complexities are enough to drive anyone up the wall. Having the help of a professional to guide you through the process is possibly the kindest thing you could do for yourself during this difficult time. An attorney can not only act as your intermediary when dealing with the courts, but they can help to ensure that the estate is handled according to the criteria laid out in the statutes of the State. Essentially, an attorney has the expertise to guide you through every step of the process, helping with determining the assets and debts of the estate, making accountings to the probate court and obtaining all the documents and approvals you will need in order to distribute assets legally and correctly.
If you have been tasked with administrating an estate in probate Fortress Law & Realty can help you through the process. Visit our contact page to schedule a free phone consultation so that we can make sure your loved one’s affairs are settled correctly.