One of the circumstances is when someone contests the will. There must be a legitimate reason to take this step but is fairly common. This mostly occurs when the children are not receiving equal amounts of the estate or if there has been some major change in the will from an earlier will. Another circumstance that could potentially complicate the process of reading and handling the will is when someone contests who is meant to be the executor of the will.
The second method can be a little more complicated for everyone involved. This second method involves the court system overseeing the proper handling of the estate of the person in question. The first step that the courts will take is to determine who will be the executor of the estate. This is an extremely important step due to the fact that this person is the one who is being trusted by the courts and the family to handle everything properly. This person will essentially be in charge of making sure everything about the person’s estate is handled in the best way possible.
Probate is the court supervised process of settling someone’s estate after they’ve died. It includes gathering up the decedent’s property, identifying and paying creditors, and transferring property to the decedent’s heirs. There are different levels of probate in Nevada depending on the value of the estate.
The necessity for probate generally depends on the type and value of the decedent’s property. Due to the low dollar thresholds in California, some form of probate is usually necessary in most cases. Keep in mind that certain types of property are not included when trying to determine if probate is necessary. This includes property that was owned jointly with another person and property that has a “pay on death” or “transfer on death” beneficiary designation.
The executor is responsible for carrying out the administration of the decedent’s estate. This includes initiating the proper probate proceeding, paying creditors, and distributing the decedent’s assets to the proper heirs. If you’ve been named executor, it’s generally advisable to obtain the services of a probate attorney to assist you with this process.