LAS VEGAS PROBATE ATTORNEY
WHAT IS PROBATE?
Probate is the legal process occurs after a person passes away. It includes validating the decedent’s will, identifying and inventorying the decedent’s estate, paying debts and taxes, and distributing the remaining property to the correct beneficiaries. If a person died without a will, the person is referred to as dying intestate and the person’s property will be divided and distributed according to state law.
At Roland Law Firm, we have more than 30 years of combined experience, and have helped clients with various probate law issues and concerns. We not only have the ability to help a personal representative administer a lost loved one’s estate, we also assist clients to prepare for the probate of their estates prior to their passing.
Please read the following areas of practice in which our Las Vegas probate attorney can help with:
There are various ways to avoid probate of your estate. Certain assets, such as life insurance proceeds and tax-deferred retirement plans do not go through probate, but probate items, such as property and other assets, may avoid probate if a person creates certain types of trusts, accounts, securities, and/or ownerships.
Estate tax does not exist in the State of Nevada. For state law purposes, the estate does not pay a tax after a person passes away, nor do beneficiaries have to pay an inheritance tax upon receiving parts of an estate. However, an estate may still have to pay a federal estate tax if the assets are over $5 million. Creating an estate tax plan allows individuals and their families to safeguard their assets and protection for their loved ones.
Probate is a complicated court-supervised process that involves validating a will, appointing an executor or personal representative and administering an estate. Contact us to learn more about the probate process in Nevada.
Depending on the decedent’s estate, the probate process may be a simple or complex process. It involves the personal representative collecting a loved one’s assets and property, inventorying said items, paying necessary taxes and debts, and distributing the remaining assets to the rightful beneficiaries. Beneficiaries are determined by what a will states, or if a will does not exist, by Nevada State law.
Wills and trusts are essential estate planning documents. Wills allow the creator to name a beneficiary for their minor children, elect an executor for their estate, and determine which of their assets and property will go to certain people after the creator passes away. Depending on the type of trust, a trust may safeguard a person’s assets while he or she is alive, as well as after he or she passes away, and may help avoid the probate process.
An individual who is serving as a successor trustee has many responsibilities to uphold, and if he or she is found in contempt of abusing his or her fiduciary duty, he or she may face legal penalties. A successor trustee must administer the trust as the grantor stated in the trust’s original documents, must follow the state’s trust law, and must act fairly with all beneficiaries involved.
CONTACT ROLAND LAW FIRM FOR YOUR PROBATE NEEDS
Probate law is an extensive area of law, but our attorneys at Roland Law Firm have over three decades of probate experience. We have the ability to assist clients and their families throughout a lost loved one’s probate process, as well as help clients avoid their own estate’s probate.
Contact our Las Vegas and Henderson elder law firm to get started with your case immediately!
Roland Law Firm
Las Vegas Elder Law & Estate Planning Attorneys
© 2018 All Rights Reserved
2520 Saint Rose Parkway
Henderson, NV 89074
The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.