Probate

Probate is the legal process of administering your estate, resolving all claims, and distributing your assets according to your will when you pass away. Typically probate is reserved for the legal distribution of property after your death. However, if you have assets to leave behind to your children, family or others when you pass away, you may not have to go through a lengthy and costly probate process. It is wise to contact an estate planning attorney in Las Vegas to discuss the probate process and how to avoid it if possible.

If you leave behind debts that need to be settled at your passing, your beneficiaries may need to open a probate claim. There are tools and strategies to remove this burden from your beneficiaries. Meeting with a qualified Las Vegas estate planning attorney in  to discuss the probate process may allow your debts and other obligations to be paid before your death or through your estate after your death.

A living trust is a good start in the estate planning process to help avoid a probate hearing that could take months or years to complete and cost your loved ones thousands of dollars. Typically in a living trust you will specify that your property will pass to your beneficiaries without the need for a probate hearing. Even if you create a living or revocable trust, our Firm recommends that you leave direction for your loved ones to meet with a qualified estate planning attorney in Las Vegas to ensure that your last wishes are properly carried out.

On average the probate process will cost anywhere from 4% to 7% of the total estate depending on the complexity of the estate and distribution of assets. Additional litigation costs can also be a concern if there is a contest of any testamentary trusts or the will by a beneficiary or another party. Additionally, be aware that the estate will be responsible for appraisal costs and executor’s fees and filing fees to have your probate properly filed. Thus, it is essential to meet with a qualified estate planning attorney to help you avoid probate if possible.  However, in the event you are unable to avoid probate, the attorneys at our Firm can help you navigate through the process of probate.