In Nevada, there are different levels of probate depending on the value of the decedent’s estate. Summary administration is the procedure that applies to the second level of probate. Recognizing that certain estates do not need to go through the full procedure, the summary administration process allows estates valued at under $300,000 to avoid the complex and time-consuming process.
It can be difficult and burdensome to steer your loved one’s estate through probate no matter how it is valued. Contact a reliable probate attorney to discuss the advantages of summary probate administration in Las Vegas. Our dedicated legal professionals can review whether the estate qualifies and guide you through it with as few hurdles as possible.
Summary administration is an alternative type of probate proceeding from general administration. The goal is to let smaller estates avoid some of the significant costs and delays of general administration. This proceeding is only available to estates valued at less than $300,000, but any debts, mortgages, or liens may be deducted from the overall value when calculating how much the estate is worth. The petition for summary administration must include:
If it is later determined that the actual value of the estate is worth more than the $300,000 maximum threshold, the summary administration must be converted into a general administration. Our Las Vegas lawyers use every tool at our disposal to confirm whether an estate is eligible for summary probate administration and take full advantage of what it offers.
Summary administration is intended to be an easier process for a less complicated or valuable estate. However, many of the same rules and regulations apply as with general administration. The main differences involve establishing proper notice and the period for creditors to file claims.
After a petition is filed with the probate court, the petitioner must provide notice to any heirs or creditors at least 10 days before the hearing. With general administration, there is an additional requirement that the notice be published. Individuals filing for summary administration are not required to provide notice. Likewise, the period for creditors to file a claim with the estate is limited to 60 days for estates in Las Vegas utilizing summary administration, as opposed to 90 days for more valuable estates.
For estates valued at less than $300,000, the summary administration procedure is a more streamlined and efficient process than general probate. However, many of the same rules apply to both summary and general administration. If you have questions about implementing the decedent’s plan for their heirs and beneficiaries, contact a Las Vegas attorney about summary probate administration.
Cross Law Group can help determine what type of probate level will oversee your loved one’s estate. We will be your advisor and legal consultant as you prepare the petition, file it with the court, and begin distributing assets according to their wishes. Settling your loved one’s affairs can be daunting, but it does not have to be a long, complex process. Contact our office to schedule a free consultation.