intestate succession in nevada

INTESTATE SUCCESSION IN

NEVADA “When you have no plan, the probate court will determine how

to handle your assets, based on the laws of intestate succession.

Based on those laws, to whom your property will be distributed

depends on which of your relatives survived you.”

BRADLEY B. ANDERSON RENO NEVADA ESTATE PLANNING ATTORNEY

http://www.wealth-counselors.com/services/estate-planning-services/

Intestate Succession in Nevada www.wealth-counselors.com 2

What does it mean to die “intestate?” It means that you did not create a plan

for how your estate should be handled upon your death. When you have no

plan, the probate court will determine how to handle your assets, based on the

laws of intestate succession. Based on

those laws, to whom your property will

be distributed depends on which of your

relatives survived you. Dying intestate

means you have no control over who

your heirs are, and what each of them

will receive, when you pass away.

Nevada’s Laws of Intestate Succession

When it is time to settle your estate, typically the only assets that are involved

are those that you own in your name only. Those are the assets that will pass to

your heirs through the laws of intestate succession. If you own joint property, it

will not be included, but will instead pass automatically to your co-owner. There

are also other types of property that are not affected by the laws of intestate

succession in Reno:

property you transferred into a living trust,

life insurance proceeds,

funds in an IRA, 401(k), or other retirement account

securities held in a transfer-on-death account

payable-on-death bank accounts

vehicles held by transfer-on-death registration


Who will inherit my property?

In most states, including Nevada, your property goes to your spouse, children,

parents or siblings, in that order. In other words, if only one of these relatives

survives you, that relative inherits everything, in that order of priority. If you

have two children or two siblings, for example, then they will divide your estate

evenly.

If your spouse and your children both survive you, your spouse inherits all of

your community property and 1/2 of your separate property. If only your spouse

and parents survive you, they split your separate property equally, but your

spouse inherits all of the community property. The same is true for siblings and

a spouse, if your parents are not living at the time of your death.

COMMUNITY PROPERTY

Because Nevada is a Community Property state, your spouse will inherit your

share of the community property upon your death. “Community property” is


property acquired while you were married. The exception is that gifts and

inheritances given to only one spouse, even if acquired during marriage, are not

considered community property.

LEGAL DEFINITION OF “CHILDREN”

Children who have been legally adopted,

will receive a share along with any

biological children. However, foster

children or stepchildren who were not

legally adopted do not automatically

receive a share. Children you placed for

adoption and who were legally adopted by another family are no longer entitled

to a share of your estate.

Children you conceived, but were not born before your death (posthumous

children) can still receive a share. Children born outside of marriage can only

receive a share of your estate if it can be proven that you acknowledge them as

your children and contributed to their support.

SPECIAL CIRCUMSTANCES THAT MAY APPLY

So-called “half” siblings (those with only one parent in common) inherit as any

other sibling would. Relatives entitled to an intestate share of your property will

inherit whether or not they are citizens or legally reside in the United


States.Finally, Nevada’s “killer” rule says, that anyone who feloniously and

intentionally kills you, will not receive a share of your estate.

AVOIDING THE LAWS OF INTESTATE SUCCESSION

In order to avoid the laws of

intestate succession distributing

your property for you, after your

death, you need to create an estate

plan. A comprehensive estate plan

will see that your debts are paid and

designated how and to whom the

remainder of your estate will be

distributed. The most basic estate planning instrument is alast will and

testament. A will is your written instructions as to how you want your estate to

be handled when you die. One drawback of using a will is that the property

must go through probate before your assets can be distributed.

AVOIDING PROBATE

If you execute a will, all of your property must pass through probate, which can

be an expensive and time-consuming process,which is also open to the public.

Contrary to what many people think, it is not difficult to avoid probate. Some

simple methods of making sure your property passes to the heirs you choose,

without going through probate, include revocable living trusts, pay-on-death


accounts and registrations, joint ownership of property and gifts. Consult with a

Nevada estate planning attorney to explore which options are best for you.

If you have questions regarding intestate succession in Reno, or any other estate

planning needs, please contact Anderson, Dorn & Rader, Ltd., either online or by

calling us at (775) 823-9455.

http://www.wealth-counselors.com/contact-us/


About the Author

BradleyB. Anderson

Prior to founding his own firm in 1995, Mr. Anderson served as a

senior counsel for two major financial institutions and witnessed

the often devastating effects of ineffective estate planning with

many customers of those institutions. When he eventually decided

to venture out on his own, this experience led him to focus

exclusively on estate planning, providing his clients with a full

range of basic and advanced planning options.

Mr. Anderson began his professional life as a teacher of mentally-challenged, visually impaired

students. After four years as a special education teacher, Mr. Anderson returned to school to

obtain his law degree and begin a second career. Upon finishing law school, he went to work

for a civil litigation firm, spending five years handling litigation, probate and wills work. He

then moved on to Wells Fargo Credit Corporation where he served as senior counsel. In 1990

he accepted a position with the First Interstate Bank Legal Division, where he had

responsibility for several divisions, including the Trust Department. In 1995, he began his own

practice as Bradley B Anderson, Attorney at Law. The firm has continued to grow into the

premier estate planning law firm we see today.

Anderson, Dorn, & Rader, Ltd. Legacy and Wealth Planning Attorneys 500 Damonte Ranch Parkway

Suite 860 Reno, NV 89521

Phone: (775) 823-9455 Fax: (775) 823-9456



http://www.wealth-counselors.com/