If you or a loved one passes away without a valid Last Will and Testament, intestacy laws (sometimes called succession laws) will be used to settle your estate. These laws are unique to each state and determine who inherits property when no Will is available to make the decision.
Intestacy Laws
If you do not create a Last Will and Testament or your Will is deemed inadmissible by a court of law, all property in your state of residence and any real property located in other states will be subject to a court supervised probate proceeding in each state. The court will apply the laws of intestacy relative to its state of jurisdiction.
Intestacy laws not only establish who inherits, they also decide how much each person receives. When laws from multiple states affect an estate, different heirs may inherit the property in each location. In some cases, heirs you would have liked to include may receive nothing or heirs you would not have liked to include will receive an inheritance.
Whether you decease with a Will or intestate probate proceedings will be required. The court will appoint a personal representative or executor or executrix to administer your estate. The personal representative will work with an attorney to determine what assets are subject to probate and who the beneficiaries or heirs will be in each state where a probate may be required. This can be a lengthy process. During this time, family members may not agree on decisions made by the personal representative, which can slow the process down further.
Probate is a costly procedure. Costs include court costs, attorney fees, personal representative fees, publication fees, appraisal fees, tax preparation fees and real estate agent fees to name a few.
Estate Planning Attorneys
If you live in Nevada, get in touch with Anderson, Dorn & Rader, Ltd. to learn about Nevada intestate succession. To avoid the concerns that are created by intestacy laws, it is recommended that you work with qualified estate planning attorneys to create a Last Will and Testament. To avoid the costs and inconveniences of probate altogether, ask a your attorney about the benefits of a trust.
Hire an Estate Planning Attorney
With a law degree and a Master of Health Administration from the top health law program in the nation Mr. Rader began his career in public service with the Nevada State Board of Medical Examiners. While with the Board he dealt with many complex health care issues confronting the state and assisted in redrawing state health law. Mr. Rader next worked for the Governor’s Office, Consumer Health Assistance. As Deputy Chief Ombudsman he represented the interests of many citizens before health care providers, state legislators and other state agencies.
- Who Gets My Assets If I Die With No Will? - October 29, 2020
- Estate Planning Awareness Week: The Importance to You and Your Family of Having an Estate Plan - October 19, 2020
- Can Estate Planning Protect My Family Heirlooms? - October 14, 2019
