How Summary Administration Works
There are four different levels of probate depending on the value of the Estate. This article will focus on the second-highest level of probate, which is known as a “Summary Administration”. If you have lost a loved one and have questions about probate, please contact us to schedule a free consultation with our Reno probate attorney.
What is Summary Administration?
“Summary Administration” is a type of probate proceeding in Nevada that exists as an alternative to the full probate proceeding known as a “General Administration.” It’s intended to help modest sized estates avoid some of the cost and delay of general administration. Summary Administration is available only to probate estates that have less than $300,000 of assets (when added together). Keep in mind that you are allowed to subtract any mortgages and liens when determining the value of the estate.
Summary Administration vs. General Administration
Although the summary administration in Nevada is meant to provide a quicker and cheaper alternative to full probate, the benefits are unfortunately quite minor. Many of the same rules and requirements of general administration also apply to the summary administration. This means that the two proceedings are very similar. The two big exceptions are the notice requirements and the period for filing creditor claims, discussed below.
Every probate probate proceeding (with the exception of very small estates that can use an Affidavit of Entitlement) starts with the filing of a Petition in probate court. The Petition provides the court with information on the decedent, as well as the decedent’s estate.
After the Petition is filed and a hearing date is set, the Petitioner must mail a copy of the petition and a notice of hearing to all interested persons in the estate at least 10 days prior to the hearing, including Nevada’s Medicaid Recovery Unit. In a General Administration, the notice of hearing must also be published in a local newspaper. Summary administrations do not have this requirement.
Creditor Claims Period
One of the primary functions of the probate process is to allow creditors of the decedent to come forward and have their debts paid out of the estate. For this reason, after the Executor of the estate is appointed, he or she must publish a Notice to Creditors in a local newspaper. The cost is usually around $250. The notice will also need to be sent to any known creditors of the estate.
In a summary administration, creditors have 60 days to file to come forward and file a claim against the estate (in most cases). This time limit is 90 days days in a general administration. In both types of proceedings, if the creditor fails to come forward within the time limit, then the debt is forever barred.
The Bottom Line
The summary administration procedure was created as a slightly more streamlined and efficient alternative to general administration. However, most of the same rules apply to both types of proceedings, with the limited exceptions noted above. So, make sure you’ve read our article on General Administration probate in Nevada. If your still have questions about probate, please contact our office to schedule a consultation with our Reno probate attorney.
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